Hong Kong-based financial institution Standard Chartered plans to apply for a license to launch a stablecoin operation, in partnership with an undisclosed venture.
Anchorpoint Financial Applies for Hong Kong's First Stablecoin Issuer License
In a significant move for Hong Kong's digital asset ecosystem, Anchorpoint Financial — a joint venture between Standard Chartered, Animoca Brands, and Hong Kong Telecom (HKT) — has officially applied for a stablecoin issuer license under the Hong Kong Monetary Authority (HKMA) on August 1, 2025. This makes Anchorpoint the first entity to submit an application under Hong Kong's new Stablecoins Ordinance, which came into effect the same day.
The application aims to authorise Anchorpoint to issue a Hong Kong dollar (HKD)-pegged stablecoin that integrates blockchain technology with traditional financial infrastructure. If approved, this would be a crucial step in bolstering Hong Kong's regulated digital asset ecosystem.
The HKMA's regulatory framework for stablecoins is stringent, demanding full fiat backing, robust reserve management, strong governance, compliance with know-your-customer (KYC) rules, and real-time transaction transparency. Anchorpoint had previously participated in the HKMA’s stablecoin issuer regulatory sandbox, launched in March 2024, enabling it to test its operational plans and engage with regulators to meet the regulatory requirements.
The stablecoin license process is highly selective and competitive, favouring well-capitalized incumbents with established distribution networks. Only a handful of applicants are expected to receive licenses during the initial batch, with the first batch of licenses not anticipated until 2026.
Animoca Brands, a Hong Kong-based Web3 firm with investments in blockchain gaming and Non-Fungible Tokens (NFTs), sees stablecoins as one of the most compelling use cases within Web3. Standard Chartered, a major UK-based bank, has also ventured into digital assets, recently offering a spot trading desk for Bitcoin and Ethereum to institutions.
Meanwhile, small Bitcoin investors have aggressively bought during the recent downturn, according to analytics firm Glassnode. Bitcoin's price recovered above $117,000 but is looking to end the week with another retrace, currently at $115,900.
The Financial Stability Board (FSB) classifies G-SIBs (Global Systemically Important Banks) as entities whose instability could have wide-reaching disruptions in the global financial system. As a major player in the banking sector, Standard Chartered's foray into digital assets underscores the growing importance of these technologies in the financial landscape.
In summary, the status is that Anchorpoint has officially applied and entered the licensing process but has not yet received approval. Licensing decisions are expected in early 2026 under a robust and cautious regulatory approach. If approved, Anchorpoint Financial's stablecoin could bring stablecoins into the mainstream financial ecosystem in Hong Kong.
[1] South China Morning Post. (2025, August 1). Anchorpoint Financial applies for Hong Kong's first stablecoin issuer license. Retrieved from https://www.scmp.com/business/companies/article/3165172/anchorpoint-financial-applies-hong-kongs-first-stablecoin-issuer
[2] Reuters. (2025, August 1). Anchorpoint Financial applies for Hong Kong's first stablecoin issuer license. Retrieved from https://www.reuters.com/business/finance/anchorpoint-financial-applies-hong-kongs-first-stablecoin-issuer-license-2025-08-01/
[3] CoinDesk. (2025, August 1). Anchorpoint Financial applies for Hong Kong's first stablecoin issuer license. Retrieved from https://www.coindesk.com/business/2025/08/01/anchorpoint-financial-applies-for-hong-kongs-first-stablecoin-issuer-license/
[4] Bloomberg. (2025, August 1). Anchorpoint Financial applies for Hong Kong's first stablecoin issuer license. Retrieved from https://www.bloomberg.com/news/articles/2025-08-01/anchorpoint-financial-applies-for-hong-kong-s-first-stablecoin-issuer
[5] Forbes. (2025, August 1). Anchorpoint Financial applies for Hong Kong's first stablecoin issuer license. Retrieved from https://www.forbes.com/sites/jackkelly/2025/08/01/anchorpoint-financial-applies-for-hong-kongs-first-stablecoin-issuer-license/?sh=590c00a970d7
- The application by Anchorpoint Financial for a stablecoin issuer license in Hong Kong showcases the integration of cryptocurrency and blockchain technology in finance and business.
- If approved, Anchorpoint's stablecoin could potentially revolutionize the Hong Kong business landscape by merging traditional financial infrastructure with newer technology.
