Anchorpoint Financial Seeks Stablecoin License in Hong Kong Under New Ordinance

Anchorpoint Financial, a joint venture established on August 1, has formally signaled its intent to apply for a stablecoin license under Hong Kong’s newly enacted Stablecoins Ordinance [1]. The company is a collaboration between Animoca Brands, Standard Chartered Bank (Hong Kong) Limited, and HKT, combining expertise in Web3, banking, and telecommunications. This initiative represents a strategic move to bridge traditional finance with blockchain technology, positioning Hong Kong as a leading hub for regulated digital assets [1].

The partners have already participated in the Hong Kong Monetary Authority’s (HKMA) stablecoin sandbox program, where they tested the integration of blockchain-based settlements into both retail and institutional systems. This foundational work now underpins Anchorpoint’s bid to become one of the first regulated stablecoin issuers in the region. If successful, the venture could serve as a critical infrastructure provider for fiat-backed stablecoins, enhancing trust and adoption in cross-border payments [1].

Standard Chartered’s banking infrastructure, HKT’s telecom capabilities, and Animoca’s deep Web3 experience collectively aim to deliver a solution that meets regulatory demands while serving everyday users. Animoca’s Group President, Evan Auyang, emphasized the importance of bringing stablecoins into the mainstream financial system, noting that as more assets become tokenized, regulated fiat-backed tokens will be essential for institutional adoption [1].

The HKMA’s new regulations mandate strict reserve management, redemption mechanisms, and operational transparency, which Anchorpoint plans to meet head-on. Compliance, according to the company, is not just a regulatory hurdle but a competitive advantage. By operating under direct HKMA supervision, Anchorpoint aims to attract institutional clients seeking secure blockchain-based payment solutions [1].

This initiative also aligns with broader trends in Asia, where regulators are increasingly developing frameworks to support stablecoin innovation. Hong Kong’s approach could serve as a blueprint for neighboring markets. The outcome of Anchorpoint’s license application may set a precedent for future stablecoin issuers in the region, influencing how digital assets are integrated into the broader financial ecosystem [1].

Should Anchorpoint be granted its license, its stablecoin could facilitate new opportunities in trade, remittances, and asset settlement. The partnership’s success would mark a significant step toward merging blockchain innovation with traditional financial systems, reinforcing Hong Kong’s role as a global leader in digital finance.

Source: [1] Animoca, Standard Chartered, and HKT Team Up for Hong Kong Stablecoin License Push (https://blockonomi.com/animoca-standard-chartered-and-hkt-team-up-for-hong-kong-stablecoin-license-push/)