Animoca partners with Standard Chartered and Hong Kong Telecom to seize stablecoin licenses, submitting applications on the first day of the Hong Kong "Regulations" coming into effect.

On August 1, 2025, the Hong Kong "Stablecoin Regulation" will officially come into effect. The joint venture company Anchorpoint Financial Limited, formed by Animoca Brands, Standard Chartered Bank (Hong Kong), and Hong Kong Telecommunications (HKT), officially submitted an application for a stablecoin issuer license to the Hong Kong Monetary Authority (HKMA). This move aims to bridge TradFi and digital asset sectors. The three parties have been participating in the HKMA's stablecoin sandbox testing since July 2024. In the face of a licensing competition involving over 40 institutions (including JD Technology, RD InnoTech, etc.), Animoca Chairman Yat Siu pointed out that the Hong Kong dollar stablecoin pegged to offshore dollars has unique advantages, and Hong Kong's clear regulatory framework will accelerate its development into an international fintech hub.

The Three Giants Unite: Sandbox Testing First, Applications Rush on the First Day of Regulation Effectiveness Animoca Brands (a Web3 giant), Standard Chartered Bank (Hong Kong) (representative of TradFi), and HKT (Hong Kong Telecommunications) (telecom and payment infrastructure) have joined forces to announce the establishment of a joint venture, Anchorpoint Financial Limited, on August 8. The company submitted its application for a stablecoin issuer license to the Monetary Authority on August 1, the first day of the effectiveness of Hong Kong's Stablecoin Regulation. The core strategy of the three-party collaboration is to promote the integration of TradFi and digital assets through compliant stablecoins.

To meet regulatory requirements, the three parties will participate in the Monetary Authority's stablecoin regulatory sandbox starting in July 2024, with tests covering institutional and retail application scenarios. The regulations clearly state: licensed issuers must implement strict risk management, maintain sufficient fiat reserves, and ensure users can complete redemptions within one working day.

Hong Kong Stablecoin Race: 40 Institutions in a Mixed Battle, Offshore Dollar Pegging Becomes the Ace Currently, there are over 40 applicants for stablecoin licenses in Hong Kong, covering large banks and technology companies, but only a few are expected to be approved. In addition to Anchor Point Financial, the sandbox participants also include:

• JD Technology affiliated company: Developing HKD stablecoin
• RD InnoTech: Layout of Hong Kong Dollar stablecoin infrastructure

Animoca co-founder and chairman Yat Siu emphasized the unique positioning of Hong Kong's stablecoin: an offshore USD peg mechanism backed by the Hong Kong dollar, providing a compliant stablecoin alternative for the global market outside of the U.S. He believes that Hong Kong's clear regulatory pathway is a catalyst for innovation, which will accelerate the adoption of digital payments and consolidate its position as an international fintech center.

Global Regulatory Benchmark: Hong Kong Framework Connecting MiCA and GENIUS Act The regulatory framework for stablecoins in Hong Kong is in sync with global trends, with its core principles aligned:

• European Union: MiCA (Markets in Crypto-Assets) regulation
• United States: GENIUS (Payment Stablecoin Regulation) Act This move also aligns with Animoca Brands' core strategy – to deeply integrate the adoption of blockchain technology with high-compliance financial products, providing a secure entry point for institutional funds.

【Conclusion】 Animoca, in collaboration with Standard Chartered and HKT, has made a significant move in Hong Kong's stablecoin licensing, marking a historic handshake between traditional financial capital and Web3 giants in the compliance arena. Amid fierce competition from over 40 institutions, the tripartite combination of Web3 ecosystem + banking compliance + payment scenarios creates a unique advantage. With the clear framework established by the Stablecoin Ordinance, Hong Kong is positioning itself as an offshore US dollar stablecoin issuance center, forming a tripartite balance of power with the EU's MiCA and the US's GENIUS. If Anchor Financial successfully obtains the license, it will not only open up the compliance fiat inflow and outflow channel for the Hong Kong dollar stablecoin but may also reshape the liquidity landscape of digital assets in Asia. The winner of this licensing battle could become a key lever to unlock the trillion-dollar RWA (real-world assets) market.