Standard Chartered and Animoca Brands created Anchorpoint Financial Limited to build a HKD stablecoin under new Hong Kong rules. The announcement came on August 1, confirming the joint venture applied for a stablecoin license from the Hong Kong Monetary Authority (HKMA).
Anchorpoint Financial will focus on issuing and managing a Hong Kong dollar stablecoin. The company submitted its interest during HKMA’s six-month transition period, part of the new stablecoin framework launched this year. The new rules require stablecoin issuers to follow detailed regulations on reserves, transparency, and audits.
After the framework took effect, shares of some companies connected to stablecoin issuers dropped by up to 20%, based on early August reports. Analysts cited the market reaction as linked to higher compliance costs. The rule changes followed months of public consultation.
Standard Chartered and Animoca Brands Began Plans in February
Standard Chartered and Animoca Brands first announced their HKD stablecoin plan in February 2025. The creation of Anchorpoint Financial marks the next step in that timeline. Before forming the new entity, both companies also joined the HKMA stablecoin sandbox program.
The sandbox included firms such as Hong Kong Telecommunications, allowing them to test their products under real regulatory conditions. The HKMA designed the sandbox to let companies apply for a stablecoin license while fine-tuning their compliance systems.
Standard Chartered plays a key role in the project. It is one of the three banks allowed to issue physical Hong Kong dollars under the HKMA. The other two are HSBC and Bank of China (Hong Kong). Its role adds institutional backing to the HKD stablecoin initiative.
Animoca Brands, known for its Web3 projects, contributes technical and blockchain support. The two companies aim to align the new stablecoin issuer model with Hong Kong’s legal standards. Anchorpoint Financial has not confirmed a public launch date yet.
JD.com and Ant International Also Join HKD Stablecoin Race
Other firms are also moving to issue a HKD stablecoin. In late July, JD.com registered Hong Kong entities tied to stablecoin services. The firm’s unit, Jingdong Coinlink Technology Hong Kong Limited, shared plans to launch a 1:1 stablecoin linked to the Hong Kong dollar.
In early July, Ant International, a part of Ant Group, confirmed it would apply for stablecoin licenses in both Hong Kong and Singapore. These announcements followed the release of HKMA’s stablecoin rules, which opened a formal application process.
The HKMA said its stablecoin framework is designed to ensure user protection and financial stability. Firms must now secure a license to issue any Hong Kong dollar-backed stablecoin in the city. The framework also covers how issuers manage reserves and disclose key data.
JD.com and Ant International have not yet received licenses. However, both are expected to submit applications during the transition period. The new rules will apply in full after the six-month window closes.
Anchorpoint Financial Begins Under Joint Oversight
Anchorpoint Financial will operate under the joint control of Standard Chartered and Animoca Brands. The company is being structured to meet the technical and legal needs for a stablecoin issuer under Hong Kong law.
HKMA’s new rules define how issuers must manage risks, verify reserve backing, and follow anti-money laundering standards. The regulator will assess all applications individually. Only firms with complete systems will be granted a stablecoin license.
The HKD stablecoin developed by Anchorpoint aims to meet those exact conditions. Standard Chartered’s position as a licensed currency issuer could help Anchorpoint meet some of the framework’s compliance demands. Meanwhile, Animoca Brands will provide blockchain infrastructure.
No product or stablecoin has launched from Anchorpoint yet. The company’s next steps depend on the HKMA’s review and the licensing timeline. Until then, it will operate as a pre-license firm preparing for entry into the regulated HKD stablecoin market.
