Standard Chartered Bank (Hong Kong) Limited (SCBHK), Animoca Brands, and HKT have signed agreements to establish a joint venture with the goal of applying for a license from the Hong Kong Monetary Authority (HKMA) under the city’s new regulatory framework for stablecoins. The initiative seeks to launch a Hong Kong dollar-backed stablecoin, positioning the venture as one of the first licensed issuers in the region.
SCBHK plans to contribute its extensive experience in working with stablecoin issuers worldwide, offering access to its bank-grade infrastructure and robust governance standards. The bank has been involved in every HKMA tokenized money project in recent years, reflecting its commitment to supporting Hong Kong’s evolving digital asset landscape. This latest collaboration is intended to serve as a cornerstone of the venture’s operations.
Animoca Brands, a global leader in the Web3 sector headquartered in Hong Kong, intends to draw on its deep expertise and broad industry network to help the joint venture explore innovative opportunities. The company aims to identify and implement Web3 use cases that can drive sustainable growth for the project over the long term.
HKT, a prominent player in technology, media, and telecommunications, is expected to apply its mobile wallet capabilities to support the development of practical stablecoin applications. These efforts will focus on improving both domestic and cross-border payments while providing tangible benefits to consumers and merchants.
Institutional Strength Meets Web3 Innovation
Leadership at Standard Chartered has expressed confidence in the future of tokenized money, highlighting that digital assets have become a permanent part of the financial landscape. The bank considers stablecoins an essential element of the digital asset ecosystem, with established applications in global markets. By leveraging its infrastructure, governance standards, and international reach, SCBHK believes it can play a substantial role in advancing Hong Kong’s position in the sector.
The bank’s Hong Kong and Greater China leadership sees this collaboration as an opportunity to launch an innovative and secure medium of exchange for both institutional and retail users. By combining the strengths of all three partners, the goal is to create a stablecoin with wide applicability across multiple sectors. The venture is also intended to reinforce Hong Kong’s role as a leading international financial centre, while maintaining close cooperation with regulators, partners, and clients to promote responsible fintech innovation.
We have established a joint venture, Anchorpoint Financial Limited (“Anchorpoint”) in Hong Kong, together with @StanChart (Hong Kong) and HKT, to build a business model focused on the issuance and advancement of licensed stablecoins.
Anchorpoint has indicated formal interest… pic.twitter.com/XGhXmK2E7B
— Animoca Brands (@animocabrands) August 8, 2025
Animoca Brands’ management has emphasized that stablecoins are among the most proven and recognized Web3 use cases. Despite their growth, the company views the current stage of adoption as early, with significant potential for expansion across retail, enterprise, and institutional markets. The licensing regime introduced by the HKMA is seen as an opportunity for Hong Kong to position itself as a global Web3 hub, fostering safe and compliant industry growth.
HKT’s leadership has stated that the introduction of an HKD-linked stablecoin could improve transaction efficiency, enhance payment security, and provide greater transparency through advanced Web3 technologies. They believe the solution will offer value to the wider retail sector while supporting Hong Kong’s reputation as a hub for innovation.
Positioning for Early Market Entry
Since July 2024, SCBHK, Animoca Brands, and HKT have jointly participated in the HKMA’s stablecoin issuer sandbox. The program aims to assess the role of stablecoins in bridging Web3 technologies with traditional finance, improving financial markets and payment systems. The partners believe their combined strengths and early involvement place them in a prime position to become one of the first licensed issuers in the market.
Through this joint venture, the three companies aim not only to introduce a regulated HKD-backed stablecoin but also to contribute to shaping the future of digital assets in Hong Kong, fostering innovation while maintaining compliance with the highest industry standards.