Animoca JV Anchorpoint To Pursue HK Stablecoin License

Animoca Brands, Standard Chartered Bank (Hong Kong) Limited ("SCBHK"), and HKT today announced the formation of a joint venture, Anchorpoint Financial Limited ("Anchorpoint"). The new entity, based in Hong Kong, is dedicated to the issuance and advancement of a licensed stablecoin.

Anchorpoint's establishment comes on the heels of the new Stablecoins Ordinance, which came into effect on August 1, 2025. On that same day, Anchorpoint formally indicated its interest with the Hong Kong Monetary Authority ("HKMA") to apply for a stablecoin issuer license, a crucial first step in the licensing process.

The joint venture was first announced in February this year, and is a culmination of a year-long collaboration, with the three companies having participated in the HKMA's stablecoin issuer sandbox since July 2024. This sandbox program was designed to explore how stablecoins can play a key role in developing financial markets and payments, thereby strengthening Hong Kong's position as a global digital assets hub.

JD.com subsidiary JINGDONG Coinlink Technology Hong Kong Limited and Hong Kong-based fintech RD InnoTech Limited were the other sandbox participants.

Hong Kong’s stablecoin regime reflects a complementary but distinct role next to the People's Bank of China-issued e-CNY. As a global financial hub with a more open regulatory environment, Hong Kong offers a controlled sandbox for experimenting with HKD-backed or even CNY-backed stablecoins aimed at international markets.

Leaders from all three organizations expressed their enthusiasm for the initiative. Evan Auyang, group president of Animoca Brands, stated, "Stablecoins represent one of the most compelling use cases within Web3, and we believe we are still at the early frontier of widespread adoption across institutions and retail alike." He added that an HKMA-regulated stablecoin is "important in reinforcing Hong Kong's position as a leading international financial center."

Mary Huen, CEO of Standard Chartered's Hong Kong and Greater China & North Asia division, echoed this sentiment, highlighting the bank's dedication to driving fintech innovation and charting a new chapter for Hong Kong's digital asset market. "We aim to launch a stablecoin that can be used securely by institutions and individuals across a wide number of use cases," she said.

The timing of Anchorpoint’s announcement aligns with the HKMA's recently released application process for stablecoin licenses. The regulator has encouraged interested parties to contact them by August 31, 2025, and those ready to proceed are advised to submit a full application by September 30, 2025.