What to Know
Animoca Brands, Standard Chartered, and HKT form Anchorpoint Financial to apply for a Hong Kong stablecoin issuer license.
Only a handful of licenses will be granted in early 2026, as the HKMA takes a cautious rollout approach.
Strict KYC rules in Hong Kong’s new Stablecoins Ordinance raise concerns over user privacy and adoption.
Standard Chartered Bank (Hong Kong), Animoca Brands, and telecom provider HKT have officially launched Anchorpoint Financial Limited, a joint venture created to apply for a stablecoin issuer license from the Hong Kong Monetary Authority (HKMA). The license application was submitted on August 1.
According to the reports, Anchorpoint is looking to combine the best parts of banking, blockchain gaming, and telecommunications and put them together. The goal is to connect Web3 and regular banking systems so that digital payments can be made in a safe and legal way.
Regulatory Landscape
The Stablecoins Ordinance came into effect on August 1 and now puts strict rules on stablecoins that are related to Hong Kong’s official currency. Token owners must be able to cash out immediately, have reserves that are backed by the government, and be able to prove who they are.
The framework makes things clearer, but others in the sector say that the strict KYC rules could make it harder for people to use it, especially retail consumers who prefer anonymity. These worries have grown since the HKMA said that promoting stablecoins to unlicensed businesses is now against the law.
Since only a small number of permits are expected to be issued in early 2026, competition will be fierce. The new rule requires applicants to demonstrate their ability to manage risks, maintain a seamless operation, and have robust compliance procedures.
Anchorpoint has been testing multiple use cases in the HKMA’s stablecoin sandbox since July 2024, all while being closely monitored by regulators. This early testing provides the company with crucial information on how to operate its business and adhere to Hong Kong’s regulations.
Standard Chartered and Hong Kong’s Web3 Vision Gain Momentum
The Anchorpoint project comes after Standard Chartered entered the digital asset market earlier this year. The bank became the first significant bank to provide its institutional clients in Singapore and London with spot BTC and ETH last month, making it apparent that it intends to include more Web3 products in its international business.
Hong Kong’s stablecoin licensing initiative comes after the city unveiled its Web3 Policy 2.0, a strategic plan that places a high priority on RWA tokenization and stablecoins in June. The program aims to attract global Web3 firms while maintaining strong investor protections. Under this approach, regulators are actively encouraging projects that can integrate stablecoins into trade finance, retail payments, and cross-border settlements areas.
Anchorpoint Eyes Early 2026 HKMA License Decision
Anchorpoint’s license application is now being reviewed by the HKMA. Only a few approvals are expected, and a decision is due in early 2026. To be successful under the strict KYC rules, we will need to find a mix between security and user experience. If they are successful, Anchorpoint might be among the first stablecoin manufacturers in Hong Kong to receive a license. They would then have authority over the digital payments made by the majority of consumers and businesses.
Final Thoughts
Anchorpoint is a big step forward for traditional banking, telecom infrastructure, and Web3. Standard Chartered is bank-grade compliant, Animoca Brands has experience with blockchain, and HKT has a wide range of specialized technical skills. These businesses work together very well to meet Hong Kong’s strict standards. The joint company is the only one that can meet Hong Kong’s strict regulatory standards.
However, the road ahead will not be easy. Getting regulatory approval is only the first step. Anchorpoint must increase its user base in a market where cost-effectiveness, compatibility with other systems, and privacy concerns will determine success. If Anchorpoint can overcome these issues, it might become the benchmark for the issuing of approved stablecoins in Asia. This would affect governmental and market changes well beyond Hong Kong.
Also Read: Stablecoin Promotions To Face Ban in Hong Kong Starting August 1
