Predominant Web3 investor Animoca Brands has formed a stablecoin joint venture (JV) with the Hong Kong division of establishment bank Customary Chartered (2888).
The JV, identified as Anchorpoint, additionally involves Hong Kong Telecom (HKT) and targets to make a industry model for the issuance of licensed stablecoins, fixed with an emailed announcement on Friday.
Anchorpoint has expressed its curiosity in making employ of for a stablecoin issuer license in Hong Kong coinciding with the special administrative jam’s much-anticipated regulatory regime coming into make initially of this month.
The three entities had been jointly taking fragment in the Hong Kong Financial Authority’s (HKMA) stablecoin sandbox for over a 12 months in preparation for the regulations.
Around 40 companies are expected to apply for licensing below Hong Kong’s Stablecoin Ordinance, although HKMA CEO Eddie Yue said the regulator used to be inclined to approve fewer than 10.
Stablecoins are crypto tokens pegged to the price of a feeble monetary asset, equivalent to a fiat forex, in total the U.S. buck. They comprise got been a central phase of rising regulatory oversight of cryptocurrency in 2025, with the U.S. appealing to carry watch over stablecoins below the GENIUS act, as successfully as the advent of the licensing regime in Hong Kong.
