Standard Chartered, Animoca File for Regulated HKD Stablecoin Approval
Standard Chartered partners with Animoca Brands and HKT to get the Hong Kong dollar stablecoin license under a new regulatory framework.
Anchorpoint Financial Limited applied to the Hong Kong Monetary Authority on August 1, 2025, for a licensed stablecoin issuer status. The joint venture between Standard Chartered Hong Kong, Animoca Brands, and HKT submitted the application under Hong Kong’s new Stablecoin Ordinance, which took effect the same day.
The three companies previously joined the HKMA’s stablecoin sandbox program in July 2024 to test institutional and retail use cases. Their application seeks approval to issue a Hong Kong dollar-pegged stablecoin.
Mary Huen, CEO of Standard Chartered’s Hong Kong and Greater China & North Asia division, said the venture aims to support Hong Kong’s role as a digital asset hub through regulated stablecoins.
Hong Kong’s Stablecoin Ordinance requires licensed issuers to maintain robust risk management systems, back tokens with fiat reserves, and process redemptions within one business day. The regulation, passed in May 2025, creates one of Asia’s first formal licensing frameworks for stablecoin issuers.
Yat Siu, Chairman of Animoca Brands, said HKD-pegged stablecoins provide a regulated alternative outside the U.S. market. He noted that Hong Kong’s regulatory clarity supports innovation and digital payment adoption.
The partnership combines Standard Chartered’s banking infrastructure, Animoca Brands’ Web3 expertise, and HKT’s telecommunications network. Anchorpoint Financial plans to serve both retail and institutional markets with its regulated HKD-backed stablecoin.
More than 40 entities have applied for stablecoin licenses, including banks and technology companies. Regulatory observers expect only a small number to receive approval. Evan Auyang, Group President of Animoca Brands, stated the initiative will bridge traditional finance with digital assets by integrating stablecoins into mainstream financial systems.
The Stablecoin Ordinance follows similar regulatory frameworks like the EU’s Markets in Crypto-Assets (MiCA) regulation and the U.S. GENIUS Act, aiming to promote market stability and build institutional confidence in digital assets.
Related: Hong Kong Bans Unlicensed Stablecoin Advertising Starting Aug 1
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