Animoca Partners with Standard Chartered HKT in Bid for Hong Kong Stablecoin License

Animoca Brands, Standard Chartered Bank (Hong Kong), and Hong Kong Telecommunications (HKT) have formed Anchorpoint Financial Limited, a joint venture seeking a stablecoin issuer license from the Hong Kong Monetary Authority (HKMA). The application was submitted on August 1, coinciding with the enactment of Hong Kong's Stablecoin Ordinance, which imposes strict reserve, risk control, and redemption requirements on issuers.

Evan Auyang, Animoca's group president, emphasized the venture's goal of bridging traditional finance and digital assets through regulated stablecoins. "As assets continue to MOVE on-chain, HKMA-regulated stablecoins will reinforce Hong Kong's role as a global financial hub," he stated. The trio participated in the HKMA's sandbox program in July 2024, positioning themselves among a competitive field of over 40 applicants vying for limited licenses.

The regulatory framework mandates full fiat backing, one-business-day redemption guarantees, and HKMA oversight—a deliberate move to foster adoption while mitigating systemic risks in the digital asset ecosystem.