Standard Chartered works together with Animoca brands and Hong Kong Telecom Group HKT to set up Anchorpoint Financial, a joint venture requesting a license to publish a Stablecoin supported by Hong Kong Dollar under the new regime of the city.
As Reuters reported, the company formally reported the Hong Kong Monetary Authority (HKMA) of its intention only a few days after the law for Fiat-Referred Stablecoins came into effect on 1 August.
The move follows more than a year of cooperation between the three companies in the Stablecoin -Mittent Sandbox of the HKMA, which started last year. Standard Chartered contributes to bank infrastructure and governance frameworks, Animoca brings blockchain -eco system expertise and HKT offers telecommunications and integration of mobile payments. The partners announced their plan to form a recognized Stablecoin emittent in February, depending on the finishing of the legislation.
The legislative Council of Hong Kong approved the Stablecoin expenditure law on 21 May, which determines license requirements for entities that issue Fiat-Pegged digital tokens. The framework requires complete reservebacking, repayment rights and standards for risk management, with the HKMA as the license authority. The first game of licenses is expected per Reuters in early 2026, and the participants in the industry expect that initially only a small number will be granted.
Hong Kong Stablecoin rules
According to the new law, EXPENTEN must verify the identity of each stable cobe holder, a requirement that according to the HKMA is needed for anti-money laundering practice. As Reuters reported, some participants in the industry have warned that such rules could reduce acceptance by limiting tokens in non-drawn portfolios or applications for privacy retainers.
The HKD-supported Stablecoin proposed by Anchorpoint would be published and exchanged under HKMA supervision, which operates within a fully regulated environment. The partners have positioned the token and both a settlement instrument for cross-border trade and a gateway for web3 applications within the ecosystem of Animoca, so that the existing mobile payment of HKT uses the usual users in Hong Kong and beyond.
The license regime represents a rare meeting of traditional finances, technology and telecom infrastructure in one initiative for digital assets. The early submission of Anchorpoint positions it one of the first to comply with the strict standards of the city, competing with other Sandbox participants such as Jingdong Coinlink and RD Innotech. The HKMA has said that the assessment process will evaluate technical resilience, reserve management and compliance tool before any issue is approved.
Although market reception will depend on factors such as transaction costs, integration with existing payment systems and the interpretation of the regulations of the identity verification rules, the submission marks a step towards regulated, approved digital currencies that enter the regular circulation in Hong Kong.
With license decisions that are expected early next year, the progress of the company will be formed by the pace and the outcome of the HKMA evaluation process.