After the Hong Kong stablecoin regulations take effect, Standard Chartered Hong Kong, NTT Group and Hong Kong Telecommunications joint venture plan to apply for a license.

After the Hong Kong Stablecoin Regulations come into effect in August, there is finally news of applicants. Standard Chartered Bank and Animoca Brands, along with Hong Kong Telecom, have established a joint venture company called Anchorpoint. Anchorpoint officially expressed its intention to apply for a stablecoin issuer license to the Hong Kong Monetary Authority on August 1. Standard Chartered Hong Kong, Animoca Brands and Hong Kong Telecom participated in the sandbox for stablecoin issuers launched by the HKMA in July last year, exploring how stablecoins can play a key role in the development of the financial and payments market by combining Web3 with traditional finance, thus strengthening Hong Kong's role as a global digital asset center.