Animoca Brands and Standard Chartered Launch Anchorpoint Financial for Stablecoin Issuance in Hong Kong

Web3 investment giant Animoca Brands has partnered with Standard Chartered Bank and telecommunications leader HKT to establish Anchorpoint Financial Limited. The joint venture aims to secure a license under Hong Kong's new stablecoin regulatory framework, which took effect on August 1.

Anchorpoint will focus on issuing and promoting stablecoins, aligning with Hong Kong's push to integrate digital assets into its financial infrastructure. The company has formally notified the Hong Kong Monetary Authority (HKMA) of its license application, marking a significant step in bridging decentralized and traditional finance.

The initiative builds on the trio's participation in the HKMA's 2024 stablecoin sandbox, exploring real-world applications for regulated digital currencies. Industry observers view this as a strategic move to reinforce Hong Kong's position as a global crypto hub.