Standard Chartered is making an aggressive push into Hong Kong’s newly regulated stablecoin market. On Friday, the British banking giant announced it had formed a joint venture, Anchorpoint Financial, with two strategic partners: blockchain gaming developer Animoca Brands and telecommunications provider HKT.
The group has already expressed formal interest to the Hong Kong Monetary Authority (HKMA) in applying for a license to issue stablecoins in the city. This step comes just days after Hong Kong’s landmark stablecoin legislation came into force on August 1.
What Are Stablecoins and Why Do They Matter?
Stablecoins are a category of cryptocurrency designed to maintain a constant value, often pegged to a fiat currency such as the U.S. dollar. Unlike traditional cryptocurrencies such as Bitcoin, whose prices can swing dramatically, stablecoins aim to provide predictability.
This stability makes them an essential tool for crypto traders and businesses, who often use them to move funds quickly between different tokens without the risk of sudden value loss. Stablecoins are also emerging as a bridge between the traditional financial system and the digital asset economy, enabling faster cross-border transactions and new forms of payment solutions.
Hong Kong’s New Stablecoin Framework
In May, Hong Kong’s Legislative Council passed a bill creating a formal licensing regime for fiat-referenced stablecoin issuers. The law, seen as one of the most comprehensive in the region, requires issuers to meet strict standards on governance, reserves, and transparency.
The legislation officially came into effect on August 1, marking a significant milestone in the city’s ambition to become a leading hub for regulated digital finance. By setting clear rules, Hong Kong aims to attract high-quality market participants and protect users from the risks that have plagued some parts of the cryptocurrency industry.
A Race to Secure Early Approval
Anchorpoint Financial’s swift application reflects the urgency among potential issuers to secure a first-mover advantage. The HKMA has said it expects the first batch of stablecoin licenses to be granted in early 2026, meaning companies that start the process now could be among the pioneers.
For Standard Chartered, the move aligns with its broader strategy of expanding into digital assets, especially in regions where regulation provides a clear operating framework. The partnership with Animoca Brands and HKT also brings diverse expertise, covering finance, blockchain innovation, and large-scale telecom infrastructure.
Why This Matters for Hong Kong’s Financial Future
Hong Kong is positioning itself as a bridge between traditional finance and the emerging Web3 ecosystem. By introducing a stablecoin licensing regime, the city hopes to reassure both institutional players and everyday users that digital assets can be issued and managed under rigorous oversight.
If approved, Standard Chartered’s entry into stablecoin issuance could be a turning point, signaling that major global banks see regulated digital currencies not as a speculative experiment, but as a legitimate component of the modern financial system.
