Main Web3 investor Animoca Manufacturers has fashioned a stablecoin three way partnership (JV) with the Hong Kong division of multinational financial institution Normal Chartered (2888).
The JV, generally known as Anchorpoint, additionally consists of Hong Kong Telecom (HKT) and goals to construct a enterprise mannequin for the issuance of licensed stablecoins, in line with an emailed announcement on Friday.
Anchorpoint has expressed its curiosity in making use of for a stablecoin issuer license in Hong Kong coinciding with the particular administrative area’s much-anticipated regulatory regime coming into impact at first of this month.
The three entities have been collectively collaborating within the Hong Kong Financial Authority’s (HKMA) stablecoin sandbox for over a 12 months in preparation for the regulation.
Round 40 firms are anticipated to use for licensing beneath Hong Kong’s Stablecoin Ordinance, although HKMA CEO Eddie Yue stated the regulator was prone to approve fewer than 10.
Stablecoins are crypto tokens pegged to the worth of a standard monetary asset, comparable to a fiat forex, often the U.S. greenback. They’ve been a central a part of creating regulatory oversight of cryptocurrency in 2025, with the U.S. transferring to control stablecoins beneath the GENIUS act, in addition to the arrival of the licensing regime in Hong Kong.
