Standard Chartered Joins Forces to Pursue Hong Kong Stablecoin License

Standard Chartered has teamed up with key industry partners to seek a license for issuing stablecoins in Hong Kong, marking one of the first major moves since the city’s new regulatory framework for fiat-backed digital assets came into effect.

The bank’s Hong Kong branch has formed a joint venture called Anchorpoint Financial alongside blockchain gaming giant Animoca Brands and telecommunications group HKT. In a statement released Friday, the consortium confirmed it had formally expressed interest to the Hong Kong Monetary Authority (HKMA) in securing one of the new licenses.

Stablecoins – cryptocurrencies pegged to traditional currencies such as the U.S. dollar – are widely used in digital markets to transfer value quickly between tokens and platforms. Industry players have long called for clearer rules to support their adoption, and Hong Kong’s new framework appears to be delivering that certainty.

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Passed in May and effective from August 1, the legislation sets out a licensing regime for issuers of fiat-referenced stablecoins. The HKMA has indicated that it expects to approve the first batch of licenses by early 2026. For Standard Chartered and its partners, a successful application would position Anchorpoint Financial at the forefront of Hong Kong’s emerging regulated stablecoin market.

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