Animoca Brands, a global heavyweight in Web3 gaming and blockchain investment, has announced a joint venture with two of Hong Kong’s most prominent financial players, Standard Chartered Hong Kong and Hong Kong Telecommunications (HKT). The new entity, named Anchorpoint, aims to issue licensed stablecoins and accelerate their adoption in Hong Kong.
According to the official press release, Anchorpoint has also expressed its intention to apply for a stablecoin issuer licence from the Hong Kong Monetary Authority (HKMA). If approved, it will become the first organisation to officially enter the licensing process under Hong Kong’s newly implemented Stablecoin Ordinance.
A Year in the Sandbox
For the past year, Animoca Brands, Standard Chartered HK, and HKT have been working within the HKMA’s regulatory sandbox. This controlled environment allows companies to test financial innovations under the supervision of the regulator before launching them on a broader scale.
Animoca Brands’ group president, Evan Auyang
The group has been exploring the potential of stablecoins in digital markets and payment systems, aiming to build products that comply with strict local regulations while offering efficiency and security for both institutional and retail users.
Animoca Brands’ group president, Evan Auyang, highlighted the importance of the move:
“Stablecoins represent one of the most compelling use cases within Web3, and we believe we are still at the early frontier of widespread adoption across institutions and retail alike.”
Tough New Licensing Rules
Hong Kong’s stablecoin regulations came into effect just over a week ago. They are among the most stringent in the world, designed to ensure only serious and well-capitalised players can enter the market.
Key requirements include:
Upfront capital of HK$25 million (around US$3.2 million)
Local incorporation of the company
Physical offices and facilities within Hong Kong
These rules aim to boost stability and trust in the market, but they may create challenges for smaller startups and overseas firms hoping to enter Hong Kong’s stablecoin sector.
In comparison, Singapore’s regulations are more accessible, requiring only around S$1 million (US$775,000) in base capital. This makes Hong Kong’s approach significantly more selective, favouring large domestic players and those with backing from major financial institutions.
Licences Expected in 2026
The HKMA is expected to issue only a small number of stablecoin licences in the first round, which will likely take place in early 2026. Analysts believe these will mainly go to well-established Hong Kong firms and companies from Mainland China that meet the financial and operational requirements.
For Anchorpoint, this could be a strategic advantage. The joint venture’s combination of Animoca’s Web3 expertise, Standard Chartered’s global banking presence, and HKT’s telecom infrastructure positions it strongly to secure one of the coveted licences.
If successful, Anchorpoint could play a central role in mainstreaming stablecoin use in Hong Kong, potentially influencing adoption across Asia and the wider Web3 ecosystem.
