Standard Chartered and Animoca Brands have established a joint venture named Anchorpoint to apply for a license under Hong Kong's newly introduced stablecoin regulation. The Hong Kong Monetary Authority (HKMA) launched this fiat-referenced stablecoin licensing framework on August 1. Mary Huen, CEO for Standard Chartered in Hong Kong, emphasized the importance of stablecoins in developing a sustainable digital asset ecosystem, while Animoca Brands co-founder Yat Siu highlighted that better regulations might boost customer participation in stablecoin markets. The venture is one of the first formal initiatives from a major global bank to leverage Hong Kong's ambition to become a fintech hub. The regulation entails compliance measures related to reserve asset management and redemption rights for investors.

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