Animoca-Standard Chartered JV Files for Hong Kong Stablecoin License

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Animoca Brands confirmed that its Hong Kong-based joint venture with Standard Chartered and HKT, Anchorpoint Financial Limited, has formally begun the process of obtaining a stablecoin issuer license under the city’s newly enacted Stablecoins Ordinance.

The JV submitted its initial expression of interest to the Hong Kong Monetary Authority (HKMA) on August 1, marking the first step in the licensing procedure.

The ordinance, which took effect the same day, mandates that all fiat-backed stablecoin issuers must be licensed.

“HKMA-regulated stablecoins will strengthen Hong Kong’s role as a global financial hub,” said Animoca Brands Group President Evan Auyang.