0
0
Highlights:
On August 8, Web3 software company Animoca Brands announced that its Hong Kong joint venture with Hong Kong Telecommunications (HKT) and Standard Chartered has begun the process to secure a stablecoin license. Anchorpoint Financial Limited, the joint venture, officially revealed its intention to seek a stablecoin issuer license from the Hong Kong Monetary Authority on August 1.
We have established a joint venture, Anchorpoint Financial Limited (āAnchorpointā) in Hong Kong, together with @StanChart (Hong Kong) and HKT, to build a business model focused on the issuance and advancement of licensed stablecoins.
Anchorpoint has indicated formal interestā¦ pic.twitter.com/XGhXmK2E7B
ā Animoca Brands (@animocabrands) August 8, 2025
Evan Auyang, group president of Animoca, said the partnership aims to connect traditional finance with digital assets by bringing stablecoins into the main financial system. Since July last year, the three companies have taken part in the Hong Kong Monetary Authorityās stablecoin sandbox. They have tested use cases to help both institutions and retail users adopt stablecoins. The rules require stablecoin issuers to follow strong risk controls, keep enough fiat reserves, and allow redemptions within one business day.
Mary Huen, CEO of Standard Charteredās Hong Kong and Greater China & North Asia division, shared this view. She emphasized the bankās commitment to fintech innovation and creating a new future for Hong Kongās digital asset market. She said, āWe aim to launch a stablecoin that can be used securely by institutions and individuals across a wide number of use cases.āĀ
This came after the regulator introduced a new stablecoin framework, allowing a six-month transition and setting comprehensive rules. Any organization issuing stablecoins pegged to the Hong Kong dollar, whether inside or outside Hong Kong, must secure a license from the Hong Kong Monetary Authority.
The framework asks issuers to manage reserve assets well, keep client assets separate, use stabilization methods, and meet redemption requests at full value. Issuers must also follow anti-money laundering rules, manage risks properly, provide clear disclosures, and undergo audits.
Hong Kongās Stablecoin Law Takes Effect TODAY
Hong Kongās stablecoin bill is now LAW.
It sets the stage for a licensed, tightly regulated stablecoin market.
Hereās what you need to know
pic.twitter.com/uqZyaxxTJR
ā Stabolut (@stabolut) August 1, 2025
On July 29, the Hong Kong Monetary Authority released supervision guidelines and anti-money laundering steps. Interested parties must give early feedback by August 31 and submit full applications by September 30. The authority cautioned that making false licensing claims may lead to criminal charges.Ā
Globally, Hong Kongās stablecoin rules resemble efforts like the EUās MiCA regulations and the U.S. GENIUS Act to create regulated markets.Ā
Competition to lead the Hong Kong stablecoin market has grown stronger as clear regulations have helped the industry mature. In late July, JD.com registered companies connected to a potential stablecoin launch, shortly before Hong Kongās new regulations took effect. Earlier in July, Ant International revealed plans to seek stablecoin licenses in both Hong Kong and Singapore. Previously, a subsidiary of JD Technology had announced a Hong Kong dollarāpegged coin expected last July.
eToro Platform
Best Crypto Exchange
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Donāt invest unless youāre prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.
0
0
Manage all your crypto, NFT and DeFi from one placeSecurely connect the portfolio youāre using to start.
