The Hong Kong stablecoin license application process has actually begun for Standard Chartered Bank, and also Animoca Brands and HKT through their joint venture called Anchorpoint Financial Limited. This Animoca Brands partnership represents a major Standard Chartered crypto initiative that's targeting the AnchorPoint joint venture as a regulated stablecoin issuer in Hong Kong's new regulatory framework right now. Hong Kong flag overlaying financial district buildings – Source: The Block