Standard Chartered forms joint venture to issue stablecoins in Hong Kong
Standard Chartered has announced the establishment of Anchorpoint Financial, a joint venture involving its Hong Kong branch, blockchain gaming firm Animoca Brands and telecom operator HKT. The newly formed entity has formally applied to the Hong Kong Monetary Authority for a licence to issue fiat-referenced stablecoins under Hong Kong’s stablecoin legislation, which came into force on August 1, 2025.
Stablecoins are cryptocurrencies designed to maintain a fixed value, typically tied to a major fiat currency such as the U.S. dollar. They are widely used for seamless transfers between digital asset trading pairs and for hedging against market volatility. The introduction of a clear licensing regime in Hong Kong is intended to foster innovation while ensuring consumer protection and financial stability.
Joint venture details
- Anchorpoint Financial partners: Standard Chartered Hong Kong, Animoca Brands, HKT.
- Scope: Application for licence under Hong Kong’s stablecoin framework.
- Legislation: Stablecoin Bill enacted May 2025, effective August 1, 2025.
Regulatory context
Hong Kong’s new regime requires issuers of fiat-pegged stablecoins to obtain licences, maintain reserves, implement anti-money-laundering controls and undergo regular audits. The HKMA has indicated that the first licences are expected to be granted early in 2026. This regulatory clarity is designed to attract licensed issuers and promote Hong Kong as a hub for regulated digital asset services.
Market implications
Industry observers expect that licensed stablecoin issuance will support greater institutional participation in the crypto market, facilitate cross-border payments and enhance liquidity. The involvement of a major bank like Standard Chartered underscores the growing mainstream interest in digital assets and the importance of a robust regulatory framework.
Reporting by Kumar Tanishk in Bengaluru; editing by Nivedita Bhattacharjee.
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