Animoca Brands has entered into a strategic joint venture with Standard Chartered Bank (Hong Kong) and Hong Kong Telecom (HKT) to advance the development of stablecoins within the Hong Kong market. The collaborative entity, Anchorpoint Financial Limited, aims to establish a business model centered on the issuance and promotion of regulated stablecoins. Anchorpoint has formally communicated its intention to the Hong Kong Monetary Authority to apply for a license to issue stablecoins once the Stablecoin Ordinance comes into effect on August 1, 2025.
This initiative represents a significant milestone amid Hong Kong’s evolving regulatory framework for cryptocurrencies and digital financial services. Under the forthcoming legislation, stablecoins will be subject to rigorous oversight and regulatory requirements designed to safeguard financial stability and protect consumers. Consequently, Anchorpoint Financial’s efforts are poised to enhance market transparency and foster greater trust in the stablecoin ecosystem.
The partnership underscores Animoca Brands’ expanding commitment to the global digital assets and blockchain technology sector. By collaborating with prominent Hong Kong financial institutions, the venture is well-positioned to drive broader adoption and integration of stablecoins both locally and internationally.
Source: binance
