Hong Kong-bound Anchorpoint, a joint venture led by Standard Chartered, aims to secure a stablecoin license
Hong Kong Embraces Stablecoins: Anchorpoint Financial Leads the Way
Hong Kong is stepping into the future of digital finance, with the launch of a new stablecoin regulatory regime on August 1, 2025. This move aims to position Hong Kong as Asia’s premier digital assets hub.
In a significant development, Anchorpoint Financial — a joint venture between Standard Chartered Bank, Animoca Brands, and Hong Kong Telecommunications (HKT) — has expressed interest in applying for a stablecoin license under this new framework. This makes Anchorpoint Financial the first entity in Hong Kong to formally initiate the process.
The stablecoin ordinance, the regulatory framework for stablecoin licensing in Hong Kong, imposes rigorous requirements such as minimum paid-up capital (HK$25 million), robust reserve asset management, transparency in issuance/redemption, and strong risk management frameworks.
Stablecoins, cryptocurrency tokens typically backed by fiat currencies to minimize volatility, have more than doubled in market capitalization since early 2024, with nearly $270 billion in value. They are not only commonly used for crypto trading but also serve cross-border payments and corporate treasuries, enhancing Hong Kong's role in global finance and improving payment system efficiency.
The regulatory approach in Hong Kong emphasizes anti-money laundering (AML) and counter-financing of terrorism (CFT) standards to prevent illicit use of stablecoins, a critical concern for regulators worldwide. This safeguards systemic financial risk while promoting trusted innovation.
The benefits of stablecoins extend beyond enhanced innovation and international finance integration. They promise improved cross-border payment efficiency, strengthened regulatory oversight promoting market confidence and growth, and potentially greater financial inclusion through regulated access to digital currencies.
Mary Huen Wai-yi, CEO of Hong Kong, Greater China, and North Asia at Standard Chartered, stated that stablecoins will play an important role in building a sustainable digital asset ecosystem in Hong Kong. Animoca Brands, a fintech firm using blockchain for digital property rights, supports the importance of a digital currency in reinforcing Hong Kong's status as a leading international financial center.
The Hong Kong Monetary Authority (HKMA) started accepting applications for stablecoin licenses on August 1, and it is the regulatory body that Anchorpoint Financial will be applying to for the stablecoin license.
The introduction of a regulated stablecoin market is expected to issue only a handful of licenses early next year. This development underscores Hong Kong’s commitment to fostering a secure and innovative digital asset ecosystem, setting a foundation for cross-border financial integration, and positioning itself as a global leader in the digital finance sector.
[1] Hong Kong Monetary Authority. (2025). Stablecoin Regulatory Framework. Retrieved from https://www.hkma.gov.hk/media/eng/doc/key-initiatives/digital-assets/stablecoins/stablecoin-regulatory-framework.pdf [2] HKMA. (2025). Anti-Money Laundering and Counter-Financing of Terrorism Guidelines. Retrieved from https://www.hkma.gov.hk/media/eng/doc/key-initiatives/aml-cft/aml-cft-guidelines.pdf [3] HKMA. (2025). Supervisory Expectations for Stablecoin Issuers. Retrieved from https://www.hkma.gov.hk/media/eng/doc/key-initiatives/digital-assets/supervisory-expectations-for-stablecoin-issuers.pdf [4] Financial Services and the Treasury Bureau. (2025). Stablecoin Ordinance. Retrieved from https://www.fstb.gov.hk/english/consultation/consultation-papers/stablecoin-ordinance.html [5] Securities and Futures Commission. (2025). Guidelines on Stablecoins. Retrieved from https://www.sfc.hk/edistributionweb/number/ENG1981703.pdf
[1] With Anchorpoint Financial leading the charge, it seems that the business sector in Hong Kong is heavily investing in the future of finance and technology, as they express interest in applying for a stablecoin license under the new regulatory framework.
[2] The strong focus on rigorous regulations, such as robust reserve asset management and anti-money laundering standards, indicates that the finance industry in Hong Kong is setting high expectations for stablecoin issuers and curbing potential risks associated with digital finance.
