TL;DR
- Joint Venture: Anchorpoint combines Animoca’s blockchain expertise, Standard Chartered’s banking infrastructure, and HKT’s local reach to pioneer a licensed Hong Kong stablecoin.
- Sandbox Insights: A collaborative pilot in the HKMA’s stablecoin sandbox tested compliance controls, reserve management, and settlement models to refine the token’s framework.
- Road to Launch: With its licensing application underway, Anchorpoint targets regulatory approval and a commercial rollout that bridges fiat and on-chain liquidity.
Animoca Brands and Standard Chartered Bank (Hong Kong) Limited have teamed up with telecommunications partner HKT to launch Anchorpoint Financial Limited. The company submitted a formal expression of interest to the Hong Kong Monetary Authority on August 1, which is the same day the region’s Stablecoins Ordinance started.
This initiative represents a significant step in incorporating licensed, fiat-backed digital tokens into the mainstream financial system of Hong Kong.
A New Joint Venture
Anchorpoint combines the resources of a Web3 pioneer, a global bank, and a major telecom operator. Animoca Brands contributes its extensive blockchain expertise and tokenization capabilities. Standard Chartered Bank brings decades of regulated custody and payment infrastructure. HKT adds local market insights and network reach. Together, the partners aim to issue a fiat-referenced stablecoin that meets the HKMA’s strict governance, liquidity, and reserve requirements.
Regulatory Sandbox Experience
Since July 2024, all three parties have participated in the HKMA’s stablecoin issuer sandbox. This collaboration tested compliance controls, reserve management, and transaction monitoring. The pilot explored on-chain and off-chain settlement models. Insights gathered during the sandbox phase informed the design of Anchorpoint’s legal framework and technology stack. The hands-on trial underscores the partners’ commitment to align with regulatory expectations before pursuing full licensure.
Market Implications and Strategy
A regulated stablecoin could open new corridors for institutional investors in Asia Pacific. By anchoring digital tokens to fiat reserves, Anchorpoint may enhance on-chain liquidity for payments and remittances. The move also signals Hong Kong’s ambition to rival other financial hubs in digital asset services. Early adopters may gain competitive advantages as tokenized cash becomes a seamless bridge between traditional finance and decentralized applications.
Next Steps and Outlook
Anchorpoint will now advance through the formal licensing process, submitting detailed applications on governance policies, reserve attestations, and audit procedures. Approval may follow in the coming months after HKMA reviews. Animoca will leverage its token platforms and payment rails to support the stablecoin’s launch. Standard Chartered and HKT will integrate the token into banking services for commercial rollout. The outcome could influence stablecoin regulation across Asia.
