A “newcomer” is preparing to enter the regulated stablecoin market in Hong Kong. The Standard Chartered branch here has partnered with Web3 investor Animoca Brands and telecommunications provider HKT to establish Anchorpoint Financial, a project aimed at token issuance pegged to licensed fiat currency.
This move comes right after the Hong Kong Stablecoin Law took effect, requiring issuers to be approved by the Hong Kong Monetary Authority. Anchorpoint has expressed its intention to apply for a license, but observers predict that no licenses will be granted before 2026, and only a small group will pass the first round.
This alliance combines the strengths of traditional banking, the blockchain industry network, and telecommunications infrastructure, giving Anchorpoint the potential to lead early if approved. Evan Auyang from Animoca stated that the goal is to bring stablecoins into everyday finance, serving both retail and institutional.
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