Overview

• Anchorpoint Financial, the joint venture of Standard Chartered, Animoca Brands and HKT, submitted its application to the Hong Kong Monetary Authority on August 1, the day the Stablecoin Ordinance took effect.
• The ordinance, approved in May, establishes Asia’s first full licensing framework for fiat-backed digital tokens and took effect after over a year of HKMA sandbox testing.
• Anchorpoint’s partners have participated in the HKMA’s sandbox program since July 2024 to prototype use cases for regulated stablecoins in both retail and institutional markets.
• More than 40 entities have lodged applications under the new regime, but analysts expect only a limited number to win initial license approvals when the HKMA awards its first licenses in early 2026.
• The joint venture combines banking infrastructure, Web3 expertise and telecom networks to bridge traditional finance and digital assets under strict regulatory oversight.