Anchorpoint Financial Seeks Stablecoin License in Hong Kong to Drive Blockchain Integration

Anchorpoint Financial Limited, a joint venture formed by Animoca Brands, Standard Chartered Bank Hong Kong Limited, and HKT, has submitted an application for a stablecoin issuer license to the Hong Kong Monetary Authority [1]. This initiative represents a significant collaboration between Web3 innovation and traditional banking, aiming to integrate regulated fiat-referenced stablecoins into the mainstream financial ecosystem of Hong Kong [1].

The venture brings together Animoca Brands' expertise in blockchain and digital assets, Standard Chartered’s compliance and reserve management capabilities, and HKT’s infrastructure for payment processing. By combining these strengths, the joint venture aims to develop a stablecoin pegged to the Hong Kong dollar (HKD) that operates within a fully regulated environment [1].

The formation of Anchorpoint Financial could reinforce Hong Kong’s position as a global financial hub by enhancing the city’s financial infrastructure with blockchain-based solutions. If successful, the project may increase regional liquidity and contribute to more efficient cross-chain settlements. It could also encourage broader adoption of stablecoins and foster regulatory frameworks that support digital asset integration [1].

Evan Auyang, Group President of Animoca Brands, emphasized the potential for this partnership to transform Hong Kong’s financial landscape. “Animoca Brands is proud to partner with Standard Chartered and HKT to form Anchorpoint in applying for a stablecoin issuer license under the HKMA, with a view to bringing stablecoins into the mainstream financial ecosystem in Hong Kong,” Auyang said [1].

The project is still in the application phase and no stablecoin has been issued yet. However, its success could set a precedent for future stablecoin initiatives in the Asia-Pacific region by demonstrating a model that balances innovation with regulatory compliance [1]. If approved, the venture could lead to increased demand for blockchain technologies and improve cross-border financial operations, potentially influencing the development of regional decentralized finance (DeFi) protocols and payment systems [1].

By pioneering a regulated approach to stablecoin issuance, Anchorpoint Financial may also shape policy developments in digital asset governance, offering a blueprint for financial authorities in other markets. The collaboration reflects a growing trend toward integrating blockchain into traditional financial systems, with the potential to enhance transparency, efficiency, and compliance in digital asset markets [1].

Source: [1] Anchorpoint Financial: Pursuing Stablecoin Issuer License in Hong Kong (https://coinmarketcap.com/community/articles/6895d64ecb59d57bc2a1783d/)