Major Web3 investor Animoca Brands has formed a stablecoin joint venture (JV) with the Hong Kong division of multinational bank Standard Chartered (2888).

The JV, known as Anchorpoint, also includes Hong Kong Telecom (HKT) and aims to build a business model for the issuance of licensed stablecoins, according to an emailed announcement on Friday.

Anchorpoint has expressed its interest in applying for a stablecoin issuer license in Hong Kong coinciding with the special administrative region's coming into effect .

The three entities have been jointly participating in the Hong Kong Monetary Authority's (HKMA) for over a year in preparation for the regulation.

Around under Hong Kong's Stablecoin Ordinance, though HKMA CEO Eddie Yue said the regulator was likely to approve fewer than 10.

Stablecoins are crypto tokens , such as a fiat currency, usually the U.S. dollar. They have been a central part of developing regulatory oversight of cryptocurrency in 2025, with , as well as the advent of the licensing regime in Hong Kong.