Anchorpoint, backed by Standard Chartered, won't rush its retail stablecoin launch

Anchorpoint holds back on retail stablecoin timeline

Anchorpoint, a stablecoin venture backed by Standard Chartered and Animoca Brands, says it will not rush opening its Hong Kong dollar-backed stablecoin to everyday users. A stablecoin is a type of digital token designed to hold a steady value by matching a currency like the Hong Kong dollar.

According to the South China Morning Post, Anchorpoint CEO Dominic Maffei declined to confirm a launch date at a press conference on Friday. The company had previously said a retail offering could arrive as early as the end of 2026, but it did not repeat that timeline.

Maffei said the company would take a prudent approach. "We believe it's important to build the market out in a long-term, sustainable manner," he said. He added that rushing a launch "does not make sense."

Key points at a glance

• Anchorpoint released its institutional stablecoin product in August. An institutional product is aimed at companies and professional firms, not regular consumers.
• The venture previously indicated a retail version could come as early as the end of 2026, but the CEO did not reaffirm that date.
• The update came shortly after rival bank HSBC launched its own Hong Kong dollar-backed stablecoin, RedCoin.
• Anchorpoint grew out of a partnership between Standard Chartered, Animoca Brands, and telecom provider HKT, announced in February 2025.

What the company said at the press conference

Anchorpoint's comments came at a Friday press conference, as reported by the South China Morning Post. The CEO framed the cautious stance as a choice to build the market carefully rather than move quickly to compete.

The venture's FAQ page had earlier pointed to a possible retail launch by the end of 2026. That expectation is now uncertain, since the company would not confirm it.

HSBC moves first with RedCoin

On the same Friday, HSBC launched its Hong Kong dollar-backed stablecoin called RedCoin through its PayMe app. The rollout reaches about 3.3 million PayMe users in Hong Kong. This gives HSBC a head start in serving retail customers while Anchorpoint takes a slower path.

How Anchorpoint was formed

Anchorpoint was created from a partnership between Standard Chartered, Animoca Brands, and HKT. The three companies announced the venture in February 2025. This followed their joint participation in Hong Kong's stablecoin issuer sandbox in July 2024. A sandbox is a regulated testing program where companies can trial new financial products under a regulator's oversight.

Animoca Brands brings blockchain expertise and its industry network to the venture. Blockchain is the digital ledger technology that records crypto transactions. The company's role includes helping develop uses for the stablecoin across the Web3 ecosystem, which refers to online services built on blockchain technology.

What is confirmed and what is not

Confirmed: Anchorpoint launched an institutional stablecoin product in August. The CEO declined to confirm a retail launch date. HSBC launched RedCoin for 3.3 million PayMe users on Friday.

Unconfirmed: The end-of-2026 retail launch target remains uncertain. Anchorpoint has not committed to that timeline, and no new date has been announced.

Why this matters

Hong Kong's stablecoin market is taking shape with two different strategies. HSBC moved quickly to reach millions of retail users through its PayMe app. Anchorpoint, supported by one of the world's largest banks and a major Web3 investor, is choosing a slower, more careful path. The difference in approach may shape how consumers and businesses in Hong Kong adopt Hong Kong dollar-backed stablecoins.

Sources

• Cointelegraph
• South China Morning Post