Animoca, Standard Chartered and HKT Form Joint Venture for Hong Kong Stablecoin License

Highlights:

• Animoca and partners seek stablecoin license from Hong Kong regulator.
• Hong Kong establishes strict guidelines for stablecoin issuers to guarantee safety and transparency.
• Major companies like JD.com and Ant are planning to launch stablecoins under new regulations.

On August 8, Web3 software company Animoca Brands announced that its Hong Kong joint venture with Hong Kong Telecommunications (HKT) and Standard Chartered has begun the process to secure a stablecoin license. Anchorpoint Financial Limited, the joint venture, officially revealed its intention to seek a stablecoin issuer license from the Hong Kong Monetary Authority on August 1.

We have established a joint venture, Anchorpoint Financial Limited (“Anchorpoint”) in Hong Kong, together with @StanChart (Hong Kong) and HKT, to build a business model focused on the issuance and advancement of licensed stablecoins.

Anchorpoint has indicated formal interest… pic.twitter.com/XGhXmK2E7B

— Animoca Brands (@animocabrands) August 8, 2025

Animoca and Partners Push Stablecoins Into Mainstream Finance

Evan Auyang, group president of Animoca, said the partnership aims to connect traditional finance with digital assets by bringing stablecoins into the main financial system. Since July last year, the three companies have taken part in the Hong Kong Monetary Authority’s stablecoin sandbox. They have tested use cases to help both institutions and retail users adopt stablecoins. The rules require stablecoin issuers to follow strong risk controls, keep enough fiat reserves, and allow redemptions within one business day.

Mary Huen, CEO of Standard Chartered’s Hong Kong and Greater China & North Asia division, shared this view. She emphasized the bank’s commitment to fintech innovation and creating a new future for Hong Kong’s digital asset market. She said, “We aim to launch a stablecoin that can be used securely by institutions and individuals across a wide number of use cases.” 

Hong Kong Introduces Strict Licensing Rules for Stablecoin Issuers

This came after the regulator introduced a new stablecoin framework, allowing a six-month transition and setting comprehensive rules. Any organization issuing stablecoins pegged to the Hong Kong dollar, whether inside or outside Hong Kong, must secure a license from the Hong Kong Monetary Authority.

The framework asks issuers to manage reserve assets well, keep client assets separate, use stabilization methods, and meet redemption requests at full value. Issuers must also follow anti-money laundering rules, manage risks properly, provide clear disclosures, and undergo audits.

🚨 Hong Kong’s Stablecoin Law Takes Effect TODAY

Hong Kong’s stablecoin bill is now LAW.

It sets the stage for a licensed, tightly regulated stablecoin market.

Here’s what you need to know 🧵👇 pic.twitter.com/uqZyaxxTJR

— Stabolut (@stabolut) August 1, 2025

On July 29, the Hong Kong Monetary Authority released supervision guidelines and anti-money laundering steps. Interested parties must give early feedback by August 31 and submit full applications by September 30. The authority cautioned that making false licensing claims may lead to criminal charges. 

Globally, Hong Kong’s stablecoin rules resemble efforts like the EU’s MiCA regulations and the U.S. GENIUS Act to create regulated markets. 

Growing Competition in the Stablecoin Market

Competition to lead the Hong Kong stablecoin market has grown stronger as clear regulations have helped the industry mature. In late July, JD.com registered companies connected to a potential stablecoin launch, shortly before Hong Kong’s new regulations took effect. Earlier in July, Ant International revealed plans to seek stablecoin licenses in both Hong Kong and Singapore. Previously, a subsidiary of JD Technology had announced a Hong Kong dollar–pegged coin expected last July.