Web3 powerhouse Animoca Brands has partnered with one of the biggest banks in the world, focused on the issuance and advancement of stablecoins.
In a press release, Animoca says that it has formed a new entity called Anchorpoint Financial Limited (“Anchorpoint”) in Hong Kong, in a joint venture with banking giant Standard Chartered.
Anchorpoint says it filed with the Hong Kong Monetary Authority (HKMA) to apply for a stablecoin issuer license on August 1st, on the same day that the Stablecoin Ordinance bill – which sets rules and regulations for stablecoins – came into effect in the city state.
Says Evan Auyang, group president of Animoca Brands,
“Animoca Brands is proud to partner with Standard Chartered and HKT to form Anchorpoint in applying for a stablecoin issuer license under the HKMA, with a view to bringing stablecoins into the mainstream financial ecosystem in Hong Kong.
Stablecoins represent one of the most compelling use cases within Web3, and we believe we are still at the early frontier of widespread adoption across institutions and retail alike. As assets continue to move on-chain, the HKMA-regulated fiat-referenced stablecoin is important in reinforcing Hong Kong’s position as a leading international financial center.”
Earlier in the year, Standard Chartered opened a new entity in Luxembourg after obtaining approval to offer digital asset custody services in the European Union. That entity is to serve as its 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.
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