Animoca Brands Joins Forces for Hong Kong Stablecoin Licensing Push

Generated by AI AgentCoin World
Friday, Aug 8, 2025 1:54 am ET1min read
SAND
--
Aime RobotAime Summary

- Animoca Brands, Standard Chartered Bank, and HKT formed Anchorpoint Financial to apply for Hong Kong's stablecoin issuer license under the new Stablecoin Ordinance.

- The joint venture submitted its application on August 1, leveraging a multidisciplinary approach through the HKMA's sandbox program to test institutional and retail use cases.

- Hong Kong's strict regulatory framework requires fiat reserves, daily redemptions, and robust risk management, with only a small fraction of 40+ applicants likely to receive licenses.

- The initiative aims to bridge traditional finance and digital assets via HKD-pegged stablecoins, aligning with global frameworks like EU's MiCA and reinforcing Hong Kong's digital finance ambitions.

Animoca Brands, in collaboration with Standard Chartered Bank (Hong Kong) and HKT, has established a joint venture named Anchorpoint Financial Limited to apply for a stablecoin issuer license under Hong Kong’s new regulatory regime [1]. The new entity submitted its application to the Hong Kong Monetary Authority (HKMA) on August 1, coinciding with the enactment of the Stablecoin Ordinance [2]. This marks a significant step in the integration of regulated digital assets into the traditional financial system.

The joint venture combines the strengths of a global bank, a telecommunications provider, and a blockchain technology leader, creating a multidisciplinary approach to stablecoin innovation. The trio has been part of the HKMA’s stablecoin

sandbox
program since July 2024, where they tested use cases aimed at facilitating both institutional and retail adoption [3]. The initiative underscores Hong Kong’s broader ambition to position itself as a key global center for digital asset development, aligning with regulatory frameworks such as the EU’s MiCA and the U.S.’s GENIUS Act [4].

The regulatory environment in Hong Kong is stringent, requiring stablecoin issuers to maintain sufficient fiat reserves, implement robust risk management protocols, and enable redemptions within one business day. With over 40 applicants vying for licenses, the HKMA is expected to grant approval to only a small fraction of them [5]. Other sandbox participants, including Jingdong Coinlink Technology and RD InnoTech, are also developing HKD-backed stablecoins, reflecting the competitive and innovative nature of the market [6].

Animoca’s leadership, including Group President Evan Auyang and Chairman Yat Siu, emphasized the potential of HKD-pegged stablecoins as a regulated alternative to U.S.-dollar-backed stablecoins. They see this initiative as a bridge between traditional finance and digital assets, facilitating broader mainstream adoption [7]. The regulatory clarity provided by Hong Kong is expected to drive innovation and reinforce the city’s status as a leading international financial hub.

Anchorpoint’s formation highlights a growing trend of cross-industry collaboration in the digital currency space, where

financial institutions
, telecom providers, and tech firms are joining forces to address regulatory and technical challenges. The success of this venture will depend on its ability to navigate the competitive licensing process and meet evolving market demands. As Hong Kong continues to refine its digital asset policies, the outcomes of this initiative could have far-reaching implications for the future of stablecoins in Asia and beyond.

Source:

[1] https://www.animocabrands.com/joint-venture-anchorpoint-licensed-stablecoin

[4] https://crypto.news/animoca-standard-chartered-hkt-hong-kong-stablecoin-2025/

[5] https://www.ainvest.com/news/hong-kong-stablecoin-revolution-strategic-bridge-china-global-digital-finance-2508/

[7] https://www.reuters.com/business/media-telecom/standard-chartered-forms-joint-venture-issue-stablecoins-hong-kong-2025-08-08/