Animoca Brands announced on Friday that it has established a joint project, AnchorPoint Financial Limited, in Hong Kong with Standard Chartered Bank (Hong Kong) Limited (Scbhk) and HKT to follow the licensed Stablecoins version.
It is said that the anchor has provided an expression of interest in Hong Kong’s monetary power (HKMA) on August 1, the day when the Stablecoins Decree entered into force, indicating his intention to apply for a Stablecoin Source license.
The project aims to develop a business model for the issuance and development of organized Stablecoins in the city.
“Animoca Brands is proud to partner with Standard Charged and HKT to form AnchorPoint in applying for the main Stablecoin license under HKMA, with the aim of bringing Stablecoins to the main financial system in Hong Kong.
“Stablecoins is one of the most persuasive cases of use within the Web3, and we believe that we are still at the early limits of adoption on a large scale across institutions and retail trade alike.”
Auyang added that the HKMA organized stablecoins can help enhance the position of Hong Kong as a leading international financial center.
Since July 2024, Animoca Brands, SCBHK and HKT have participated in the Sandbox Fund at HKMA Stablecoin to assess how digital assets are supported to develop financial markets and payment systems.
Companies said that Stablecoins is a bridge between Web3 and traditional financing, which contributes to the role of Hong Kong as a global center for digital assets.