Hong Kong’s Crypto Power Play: Animoca, Standard Chartered & HKT Team Up for Stablecoin Domination

Hong Kong just threw gasoline on its Web3 ambitions—and traditional finance might need a fire extinguisher.

Animoca Brands, Standard Chartered, and telecom giant HKT are launching a stablecoin joint venture in the city, signaling a full-throttle embrace of blockchain infrastructure. The move positions Hong Kong as a rare regulatory sandbox where crypto experiments get VIP treatment while Wall Street still debates 'risks.'

The trifecta brings Animoca's Web3 clout, StanChart's banking muscle, and HKT's mass-market reach—a coalition that could finally bridge digital assets with everyday payments. No details yet on whether this will be a USD-pegged workhorse or something more exotic, but expect Hong Kong's Monetary Authority to fast-track approvals.

Meanwhile, legacy finance hubs scramble to keep up. Singapore's cautious stance and Japan's bureaucratic hurdles make Hong Kong's 'ask forgiveness later' approach look downright revolutionary. The city isn't just courting crypto firms—it's building them a stadium.

One cynical take? After watching stablecoins like USDT print billions in revenue while banks collect dust on compliance fees, even blue-chip institutions realized: if you can't beat 'em, issue your own.

Animoca Brands has partnered with Standard Chartered Bank and HKT to launch Anchorpoint Financial Limited. The new venture is set to apply for a stablecoin issuer license under Hong Kong’s recently implemented Stablecoins Ordinance, which came into effect on August 1. By combining their strengths in blockchain, banking, and telecom, this joint effort aims to launch a fully regulated digital currency and connect traditional finance with Hong Kong’s growing digital market.