Overview

Animoca Brands has teamed up with the Hong Kong branch of Standard Chartered Bank to create a stablecoin-focused joint venture named Anchorpoint. This collaboration also involves Hong Kong Telecom and aims at establishing a business model dedicated to the issuance of licensed stablecoins.

What to know:

• The venture intends to secure a stablecoin issuer license in Hong Kong.
• They have been active participants in the Hong Kong Monetary Authority’s stablecoin sandbox for over a year.
• The regulatory framework for stablecoins in Hong Kong has recently been established, aligning with their objectives.

Background
Stablecoins are digital tokens that are pegged to traditional financial assets, often the U.S. dollar, and are seen as essential in shaping the regulatory landscape for cryptocurrencies in 2025.

Yat Siu, co-founder and executive chairman of Animoca Brands. (Shutterstock/CoinDesk)

Source: The information presented derives from the official announcement made via email.