Animoca Brands and Standard Chartered Launch Stablecoin Venture in Hong Kong

Animoca Brands, a heavyweight in web3 investments, has partnered with Standard Chartered's Hong Kong arm to establish Anchorpoint, a stablecoin-focused joint venture. The consortium includes Hong Kong Telecom and aims to secure a license under Hong Kong's new stablecoin regulatory framework, which took effect this month.

The venture has been stress-testing its model in the Hong Kong Monetary Authority's sandbox for over a year. While approximately 40 firms are expected to apply for stablecoin licenses, HKMA's chief executive anticipates fewer than 10 approvals.

Stablecoins—crypto tokens pegged to traditional assets like the US dollar—are becoming a regulatory priority globally. Hong Kong's licensing regime coincides with US efforts to regulate the sector through the proposed GENIUS Act, signaling growing institutional acceptance of digital assets.