Standard Chartered Launches Hong Kong’s First HKD-Backed Stablecoin Venture

Standard Chartered Bank (Hong Kong) has initiated Hong Kong’s first Hong Kong dollar (HKD)-backed stablecoin project through a joint venture with Animoca Brands and HKT, forming Anchorpoint Financial [1]. The entity submitted its licensing application to the Hong Kong Monetary Authority (HKMA) on August 1, 2025, under the newly established regulatory framework for digital assets [2]. This move is widely seen as a strategic effort to position Hong Kong as a global fintech hub and to expand the digital asset ecosystem within the region [3].

The collaboration combines Standard Chartered’s banking infrastructure with Animoca Brands’ blockchain capabilities and HKT’s telecom resources to develop a regulated digital medium of exchange. This initiative is expected to enhance transaction efficiency, support broader adoption of blockchain-based services, and improve cross-border and domestic payment solutions [4]. The project aligns with Hong Kong’s regulatory push to foster innovation in financial technology while maintaining robust oversight to manage associated risks [5].

From an analytical perspective, the launch of Anchorpoint Financial signals a broader trend of traditional financial institutions integrating blockchain technology to remain competitive. The initiative reflects Standard Chartered’s proactive approach to digital transformation and highlights the growing role of stablecoins in bridging traditional finance with decentralized systems [6]. As stablecoins are pegged to fiat currencies, they offer a more stable and practical medium for everyday transactions, distinguishing them from volatile cryptocurrencies [7].

The project is also indicative of a competitive environment among financial firms in Hong Kong to secure early positions in the stablecoin market. By filing its application ahead of other potential entrants, Standard Chartered has demonstrated a strategic advantage in the race for regulatory approval [8]. Analysts suggest that successful implementation of the stablecoin could enhance on-chain liquidity, support decentralized finance (DeFi) activity, and reinforce Hong Kong’s status as an international financial center [9].

Standard Chartered’s Mary Huen emphasized the initiative’s potential to bring an “innovative, efficient, and secure medium of exchange” to Hong Kong [10]. While no specific launch date has been announced, the next phase will involve regulatory assessments and potential pilot programs. The ultimate success of the venture will depend on how well it aligns with the HKMA’s evolving digital asset regulations and its ability to demonstrate compliance and operational viability [11].

Sources:

[1] Cointelegraph - Standard Chartered and Animoca Brands form stablecoin venture

https://cointelegraph.com/news/standard-chartered-animoca-brands-hong-kong-stablecoin-license

[2] Watcher - Animoca, Standard Chartered Seek HK Stablecoin License

https://watcher.guru/news/standard-chartered-partners-with-animoca-to-target-hk-stablecoin-license

[3] AInvest - Anchorpoint Aims to Launch HKD-Backed Stablecoin with ...

https://www.ainvest.com/news/anchorpoint-aims-launch-hkd-backed-stablecoin-animoca-brands-scbhk-2508/

[4] CoinMarketCal - Hong Kong's first HKD stablecoin race begins as Standard ...

https://coinmarketcal.com/en/news/hong-kongs-first-hkd-stablecoin-race-begins-as-standard-chartered-files-early

[5] Coin - Animoca & StanChart Seek Hong Kong Stablecoin License

https://coinedition.com/animoca-standard-chartered-hong-kong-stablecoin-license/

[6] AInvest - Anchorpoint Financial Seeks Stablecoin License in Hong ...

https://www.ainvest.com/news/anchorpoint-financial-seeks-stablecoin-license-hong-kong-drive-blockchain-integration-2508/

[7] CoinTrust - Standard Chartered, Animoca Brands, and HKT Form ...

https://www.cointrust.com/market-news/standard-chartered-animoca-brands-and-hkt-form-stablecoin-venture

[8] XT.com - Standard Chartered Launches Stablecoin Venture in Hong ...

https://www.xt.com/en/blog/post/standard-chartered-launches-stablecoin-venture-in-hong-kong

[9] CoinMarketCal - Hong Kong's first HKD stablecoin race begins as Standard ...

[10] CoinMarketCap - Standard Chartered Leads Hong Kong’s First HKD Stablecoin Initiative

https://coinmarketcap.com/community/articles/6896cd98469a69034a5b5d56/

[11] Bitrue - Standard Chartered, Animoca, and HKT Launch HKD ...

https://www.bitrue.com/blog/standard-chartered-animoca-hkt-hkd-stablecoin