Standard Chartered & Animoca Launch Licensed HKD Stablecoin JV
Standard Chartered and Animoca Brands have formed Anchorpoint Financial, a joint venture to issue a licensed HKD stablecoin under Hong Kong’s new regulatory framework. The venture entered the HKMA’s stablecoin sandbox in July and applied for an official issuer license on August 1.
HKMA CEO Eddie Yue expects around 40 firms to apply, with fewer than 10 approvals likely. As licensed HKD stablecoins emerge, they promise enhanced liquidity, new trading pairs, and greater blockchain adoption. Traders should monitor licensing progress, potential stablecoin rollouts, and institutional participation amid Hong Kong’s Stablecoin Ordinance and the US GENIUS Act.
Bullish
This development is bullish for HKD stablecoin trading. In the short term, the formation of Anchorpoint Financial and its license application can boost market confidence, increase liquidity, and create new HKD trading pairs. Over the long term, a regulated HKD stablecoin supports institutional adoption in Hong Kong, drives blockchain integration, and may inspire broader stablecoin issuance under clear regulations. Combined, these factors suggest sustained demand and improved market stability for HKD stablecoins.