SCB, Animoca & HKT Launch JV for HK Stablecoin License
Standard Chartered, Web3 investor Animoca Brands and telecom leader HKT have launched a joint venture, Anchorpoint Financial, to apply for a Hong Kong stablecoin license. The firm submitted its application to the Hong Kong Monetary Authority (HKMA) on August 1 under the new Stablecoin Ordinance that mandates strict reserve management, transparency and audit requirements for fiat-backed tokens.
Anchorpoint Financial combines Standard Chartered’s note-issuing bank status with Animoca Brands’ blockchain expertise and HKT’s telecom infrastructure. Having joined the HKMA sandbox in February, the venture aims to issue a licensed HKD stablecoin as part of Hong Kong’s mainstream financial ecosystem. The license is expected by 2026, ahead of full framework enforcement.
The move follows Standard Chartered’s launch of institutional spot trading desks for Bitcoin (BTC) and Ethereum (ETH) last month. With major players like JD.com and Ant International also eyeing a Hong Kong stablecoin license, the push for a Hong Kong stablecoin license highlights growing institutional interest in regulated digital assets.
Bullish
The formation of Anchorpoint Financial and its application for a Hong Kong stablecoin license underscore growing regulatory clarity and institutional commitment to fiat-backed tokens. In the short term, market volatility for stablecoins should remain low, but Bitcoin (BTC) and Ethereum (ETH) could see positive flows as Standard Chartered expands institutional crypto trading. Over the long term, a regulated HKD stablecoin and broader adoption by banks, telcos and tech firms is likely to reinforce confidence in digital asset infrastructure and drive further institutional inflows, supporting a bullish outlook.