Standard Chartered Joins Forces with Animoca Brands in Bold Play for Hong Kong Stablecoin Dominance
Hong Kong's crypto landscape just got hotter. Banking giant Standard Chartered is teaming up with Web3 powerhouse Animoca Brands to secure one of the city's coveted stablecoin licenses—because nothing says 'financial innovation' like legacy banks chasing blockchain cred.
The partnership signals a strategic pivot as traditional finance scrambles to stay relevant in Asia's digital asset hub. While neither firm disclosed deal specifics, insiders suggest the collaboration could reshape Hong Kong's stablecoin market—assuming regulators don't move the goalposts again.
This comes as Hong Kong positions itself as a crypto gateway between East and West. The city's stablecoin framework, launched earlier this year, already faces scrutiny from both crypto purists and risk-averse bureaucrats. Will this marriage of institutional heft and Web3 agility deliver? Or just another case of suits trying to buy their way into decentralization?
AnchorPoint’s Bold Move: Stablecoin License, Banking & Regulation
Anchorpoint Financial has expressed its official intention to Hong Kong Monetary Authority to the Hong Kong stablecoin license on August 1, 2025, just when the Stablecoins Ordinance 2025 actually came into force. The project by the Animoca Brands partnership allows the three to be among the earliest applicants based in Hong Kong under its new regulatory regime on stablecoins, despite the fact that the exercise is only beginning.
Official Statements and Market Vision
The companies have been preparing for this Hong Kong stablecoin license application for quite some time now, actually. Evan Auyang, group president of Animoca Brands, said that:
He also emphasized the market potential, saying:
Auyang further noted:
Regulatory Steps and Timeline
Since July 2024, this AnchorPoint joint venture has been participating in the HKMA stablecoin issuer sandbox program, along with some other companies. An Animoca Brands representative confirmed that theindication represents the first step in the licensing process for any regulated stablecoin issuer, which is actually important to note.
The Standard Chartered crypto strategy includes exploring HKD-backed stablecoin issuance, which aligns with their sandbox participation and also their broader plans. The HKMA has indicated that it expects the first batch of Hong Kong stablecoin license approvals to be granted early next year.
The Stablecoins Ordinance mandates that fiat-backed stablecoin issuers obtain HKMA licensing, providing regulatory clarity for companies seeking to operate in Hong Kong’s digital asset ecosystem right now. This Standard Chartered crypto initiative, along with the Animoca Brands partnership, shows how even traditional banks are moving into the regulated stablecoin issuer space.
