Animoca establishes joint venture to seek Hong Kong stablecoin license

ChainCatcher news, Animoca Brands, Standard Chartered Bank (Hong Kong) Limited, and HKT have established a joint venture named Anchorpoint Financial Ltd. The goal is to seek a stablecoin issuer license in Hong Kong.

The tripartite partnership structure of Anchorpoint reveals how stablecoin infrastructure requires expertise that spans traditional banking, blockchain technology, and telecommunications networks. Standard Chartered Bank brings traditional banking compliance and reserve management capabilities, Animoca Brands contributes Web3 ecosystem knowledge through operating blockchain projects like The Sandbox, and HKT provides critical telecommunications infrastructure for payment processing. This partnership reflects the multilayered technological and regulatory challenges of stablecoin issuance, which go far beyond the simple creation of cryptocurrencies.