StanChart Forms JV for Hong Kong Stablecoin Issuance
London-headquartered Standard Chartered will join Hong Kong’s stablecoin wave with the establishment of a new joint venture.
Standard Chartered has established a joint venture called Anchorpoint Financial Limited in Hong Kong with blockchain gaming firm Animoca Brands and telecom company HKT, according to a statement.
Anchorpoint aims to build a business model focused on the issuance and advancement of licensed stablecoins. The venture has indicated formal interest with the Hong Kong Monetary Authority (HKMA) in applying for a stablecoin issuer licence on August 1, when the Stablecoins Ordinance came into effect.
«We believe stablecoins will play an important role in building a sustainable digital asset ecosystem in Hong Kong and are dedicated to playing a role in supporting Hong Kong as an international financial center and digital assets hub,» said Mary Huen, CEO, Hong Kong and Greater China & North Asia, Standard Chartered.
Sandbox Experience
Standard Chartered, Animoca Brands and HKT all have experience dealing with the regulator in the space, having jointly participated in the HKMA Stablecoin Issuer Sandbox, which was launched in July 2024.
The British lender joins a wave of other companies seeking to take advantage of digital asset opportunities under the new regulatory regime. Last month, Hong Kong-based OSL raised $300 million in equity financing to fund activities, including business initiatives in payments and stablecoins.
