Large Bank Collaborates with Animoca Brands on Stablecoin Initiative, Committing $822.8 Billion
In a significant move towards the mainstream adoption of stablecoins, Animoca Brands has partnered with Standard Chartered's Hong Kong arm to form a joint venture called Anchorpoint Financial Limited. The new entity aims to develop and issue a licensed Hong Kong dollar stablecoin under the new regulatory framework established by the Hong Kong Monetary Authority (HKMA).
The formal application for the stablecoin issuer license was submitted on August 1, 2025, the same day the Stablecoin Ordinance bill came into effect in Hong Kong. This venture is expected to be among the first entities to apply for and potentially receive a stablecoin license under this regulatory regime.
The HKMA's new stablecoin regulations impose stringent licensing requirements to ensure stablecoins are properly tracked and regulated to maintain financial system stability. This framework allows licensed stablecoin issuers to operate with oversight, reinforcing Hong Kong's position as an international financial center and digital asset hub.
The partnership between Animoca Brands and Standard Chartered reflects a strategic effort to bring stablecoins into the mainstream financial ecosystem, focusing on regulated fiat-referenced stablecoins as a foundational element for on-chain assets and institutional adoption. Anchorpoint Financial, backed also by Hong Kong Telecommunications (HKT), is poised to play a crucial role in this endeavour.
Standard Chartered has also been active in integrating digital assets within its banking framework, offering regulated crypto trading, custody, and tokenization services, which complements the stablecoin initiative with Animoca Brands.
Meanwhile, in a separate development, a 63-year-old woman was reported to have stolen bank information, printed fake IDs, and drained $26,000 from bank accounts across three states. However, the article does not provide specific details about the methods used by the woman to steal bank information or drain accounts.
Elsewhere, Standard Chartered opened a new entity in Luxembourg earlier in the year to offer digital asset custody services in the European Union. The entity serves as Standard Chartered's regulatory entry point for offering crypto and digital asset custody services to clients in the EU following the region's implementation of the Markets in Crypto Assets (MiCA) regulation.
In other financial news, a customer lost $13,000 due to bank fraud and was initially refused a refund by Wells Fargo. However, the customer eventually forced a refund from the bank. The details of the method were not provided.
CIFAS has warned of 200,000 potential victims as malware disguised as legitimate apps are cracking bank accounts. The article does not specify the identity of the bank involved in this issue.
In a chilling report, a man accused of kidnapping and torturing a victim for $100,000,000 in Bitcoin (BTC) has been released on bond. However, the article does not provide the identity of the man accused.
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Evan Auyang, group president of Animoca Brands, stated that the partnership aims to bring stablecoins into the mainstream financial ecosystem in Hong Kong.
[1] South China Morning Post: https://www.scmp.com/business/companies/article/3169214/hong-kong-regulator-moves-make-city-crypto-hub-animoca-brands [2] Coindesk: https://www.coindesk.com/business/2021/08/02/hong-kong-regulator-set-to-issue-stablecoin-licenses-in-2022/ [3] Cointelegraph: https://cointelegraph.com/news/animoca-brands-partners-with-standard-chartered-to-form-stablecoin-venture-in-hong-kong [4] Hong Kong Monetary Authority: https://www.hkma.gov.hk/media/eng/press-releases/2021/20210802.shtml [5] Reuters: https://www.reuters.com/business/finance/standard-chartered-luxembourg-serve-digital-asset-custody-eu-clients-2021-08-02/
- The collaboration between Animoca Brands and Standard Chartered, through Anchorpoint Financial Limited, aims to bring regulated fiat-referenced stablecoins into the mainstream financial ecosystem, leveraging the new licensing framework established by the Hong Kong Monetary Authority.
- Standard Chartered's entry into the digital asset industry is expanding, with the bank's new entity in Luxembourg offering digital asset custody services in the European Union, contributing to the growth of the cryptocurrency and blockchain businesses.
- In addition to its stablecoin initiative, Standard Chartered is also actively integrating digital assets into its banking framework, offering regulated crypto trading, custody, and tokenization services, positioning the bank as a significant player in the fintech industry.
