Standard Chartered, Animoca Brands and HKT launched Hong Kong's first regulated Hong Kong dollar stablecoin today, with institutional access beginning immediately and retail customers targeted for end-2026.
Anchorpoint Financial, the joint venture behind the stablecoin, received its issuer license from the Hong Kong Monetary Authority on April 10, making it one of two inaugural licensees under the city's new regulatory framework for stablecoin issuers. Today's institutional rollout marks the first operational deployment of that license class.
The stablecoin will be available initially to institutional distributors and professional investors through a limited access model. Standard Chartered is contributing its banking infrastructure and regulatory relationships. Animoca Brands brings blockchain and gaming industry connections. HKT, the telecommunications and media conglomerate, is the third partner in the structure.
Hong Kong's stablecoin licensing regime launched in June 2024. The HKMA said at the time it would issue licenses to "a small number of well-capitalized firms" meeting capital and operational standards. Anchorpoint's April approval came alongside one other unnamed licensee, capping the inaugural cohort at two issuers.
Retail access is subject to market conditions per Anchorpoint's statement. Standard Chartered is providing its banking infrastructure and regulatory relationships. The two-phase rollout prioritizes institutional absorption before mass-market expansion. Singapore's Monetary Authority approved its first stablecoin issuer, Antalpha, in 2023, with retail onboarding following institutional deployment by roughly two years.
The rollout puts Hong Kong in direct competition with Singapore's stablecoin market and offshore platforms. It also addresses longstanding demand for regulated local-currency digital instruments from institutional investors managing Asia-Pacific portfolios.
Anchorpoint's dual-phase strategy compresses the institutional-to-retail timeline to roughly four months from today. If retail launch meets the end-2026 target, Anchorpoint will have moved faster than most regulated stablecoin operators outside the United States.
