Joint Venture between Animoca and Anchorpoint Aims for Acquisition of Hong Kong Stablecoin Permit

Hong Kong is taking a significant step forward in its digital asset market with the launch of the Hong Kong Monetary Authority's (HKMA) stablecoin issuer sandbox program. The initiative, which began in July 2024, aims to explore the role of stablecoins in developing financial markets and payments.

The sandbox program provides a controlled environment for companies to experiment with Hong Kong Dollar (HKD)-backed or even Chinese Yuan (CNY)-backed stablecoins aimed at international markets. Notable participants in the program include JD.com subsidiary JINGDONG Coinlink Technology Hong Kong Limited, Hong Kong-based fintech RD InnoTech Limited, Animoca Brands, Standard Chartered Bank Limited, HKT, HSBC, WeLab, and BCG Digital Ventures.

In a recent development, Anchorpoint Financial Limited, a joint venture formed by Animoca Brands, Standard Chartered Bank (Hong Kong) Limited (SCBHK), and HKT, has formally indicated its interest in applying for a stablecoin issuer license. This announcement coincides with the HKMA's release of the stablecoin license application process, which encourages interested parties to contact them by August 31, 2025, and those ready to proceed advised to submit a full application by September 30, 2025.

The formation of Anchorpoint occurred following the implementation of the Stablecoins Ordinance on August 1, 2025. The joint venture is dedicated to the issuance and advancement of a licensed stablecoin. Evan Auyang, group president of Animoca Brands, believes stablecoins represent a significant use case within Web3, and an HKMA-regulated stablecoin is important for reinforcing Hong Kong's position as a leading international financial center.

Mary Huen, CEO of Standard Chartered's Hong Kong and Greater China & North Asia division, emphasizes the bank's commitment to driving fintech innovation and charting a new chapter for Hong Kong's digital asset market. The HKMA's stablecoin issuer sandbox program is designed to strengthen Hong Kong's position as a global digital assets hub.

The HKMA's sandbox program is not just about experimentation; it is also about complementing the e-CNY issued by the People's Bank of China. The stablecoin regime in Hong Kong is intended to facilitate cross-border transactions and enhance the city's role as a financial hub.

In a year-long collaboration, the three companies behind Anchorpoint have been participating in the HKMA's stablecoin issuer sandbox since July 2024. The open regulatory environment in Hong Kong provides a unique opportunity for these companies to test their stablecoin offerings in a controlled setting before seeking a full license.

With the launch of the stablecoin issuer sandbox program and the announcement of Anchorpoint's interest, Hong Kong is poised to become a significant player in the global stablecoin market. The city's commitment to fostering innovation and its strategic location make it an attractive destination for companies looking to explore the potential of stablecoins.