Animoca Brands partners with Standard Chartered and HKT to launch a licensed HKD stablecoin, boosting Hong Kong’s digital finance sector.
Animoca Brands has taken a major step into the world of digital finance. The company announced the creation of a new joint venture called Anchorpoint Financial Limited. These collaborations involve the Standard Chartered Bank (Hong Kong) and HKT, which is one of the leading telecom firms in the city. They will jointly seek an HDK stablecoin issuer license with the Hong Kong Monetary Authority (HKMA).
Animoca Brands Expands into Finance with HKD Stablecoin Venture
This is a big step towards the digital asset industry of Hong Kong. Animoca Brands is most famous in the blockchain gaming and Web3. However, this new business demonstrates the fact that the company is moving to financial services. This collaboration is keen on assisting in the determination of the future of stablecoins in the area.
According to Reuters, Anchorpoint Financial will work to establish a reliable and fully licensed stablecoin that can be utilized in different sectors. The stablecoin will be fixed to the Hong Kong dollar (HKD), and therefore, it will be more stable in comparison with other forms of cryptocurrencies. This step is in line with Hong Kong’s recent efforts to become an international digital asset center.
Standard Chartered’s input provides the financial experience and credibility in the project. In the meantime, the involvement of HKT brings in strong technology and connectivity. Through collaboration, the three firms hope to create a stable, regulated, and widely used HDK stablecoin.
Notably, the joint venture will seek a license within the stablecoin regulatory framework of the HKMA. This new framework, which was introduced in the year 2024, establishes stern guidelines for companies that wish to issue stablecoins in Hong Kong. The regulations demand that he issuers have 1:1 reserves and adhere to good risk management practices. Consequently, only properly prepared companies having good partners can qualify.
In addition, Animoca Brands said the joint venture will support the broader Web3 economy. It will assist companies and customers in experiencing quicker payments and simpler cross-border payments, and enhanced access to online services. The stablecoin would be an important component of the digital financial sector in Hong Kong in case it is approved.
Related Reading: Hong Kong Launches Stablecoin Licensing Regime Starting August 2025
Animoca’s Move Reflects Growing Stablecoin Trend in Asia
This relocation also indicates a trend that is increasing in Asia. An increasing number of companies are also entering partnerships to create regulated digital assets. In other words, efforts similar to these have been observed in Singapore, South Korea, and Japan. The clear regulatory framework in Hong Kong is assisting in bringing in the large players who are interested in establishing long-term digital finance solutions.
Yat Siu, who is the executive chairman and co-founder of Animoca Brands, was very optimistic regarding the venture. He observed that the development of a safe and licensed stablecoin in Hong Kong would be able to serve the rise of the digital economy of the city. He also stressed the need for a trusted partnership and government support.
To sum up, the establishment of Anchorpoint Financial represents a new stage for Animoca Brands and its partners. Through the integration of finance, technology, and regulation, they will aim to create an HDK stablecoin that is trustworthy, helpful, and safe. In case of success, this project would allow Hong Kong to become the leader in digital payments and Web3 innovation.
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