Key Takeaways
- Hong Kong’s stablecoin regulations took effect on Aug. 1, 2025.
- Minimum capital requirements may be too high for smaller companies applying to launch a stablecoin.
- A limited number of HK firms are expected to receive the license in early 2026.
Stablecoin adoption is rising globally as Web3 gaming investment behemoth Animoca Brands announces a joint venture with two titans of Hong Kong’s (HK) financial industry to build a new venture.
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Animoca Brands’ Stablecoin Initiative
As per a press release, Animoca has launched a joint stablecoin venture called Anchorpoint, with Standard Chartered HK and Hong Kong Telecommunications (HKT) for the “issuance and advancement of licensed stablecoins.”
Moreover, Anchorpoint has expressed interest in applying for a stablecoin issuer license. This would make it the first entity in Hong Kong to formally initiate the process under the newly enshrined “Stablecoin Ordinance” regulations.
Animoca Brands group president, Evan Auyang, explained that the move is the first step toward bringing stablecoins into the mainstream ecosystem in HK, adding:
“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.”
For a year, the trio has been working in the Hong Kong Monetary Authority (HKMA) sandbox and exploring the potential of digital in markets and payments.
The HKMA is expected to issue a “handful” of licenses in early 2026.
Requirements
Hong Kong’s new stablecoin laws came into effect just over a week ago and are considered quite strict, potentially causing trouble for smaller innovators in the space.
It’s a process of prudence, requiring firms to have an upfront capital requirement of HK$25 million, or roughly $3.2 million.
In addition, all applicants need to be locally incorporated companies with physical offices/facilities in HK, which creates friction for global firms.
Conversely, Singapore requires a base capital of roughly S$1 million, or approximately $775,000.
Some analysis suggests that a small handful of KF-based firms will get the go-ahead, which is expected of large domestic firms and those from Mainland China.
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Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
