Anchorpoint Holds Back on Retail Stablecoin Launch as HSBC Moves Ahead in Hong Kong

Anchorpoint, the stablecoin venture backed by Standard Chartered, says it will not hurry to offer its Hong Kong dollar stablecoin to everyday users. The company put out an institutional product in August and had earlier suggested that a retail version might arrive by the end of 2026. At a press conference on Friday, CEO Dominic Maffei would not confirm that schedule and said the firm plans to be prudent. He explained that the market should be built in a long-term and sustainable way, and that rushing a launch does not make sense. The remarks were reported by the South China Morning Post.

HSBC RedCoin Launch Raises the Pressure

The cautious tone comes right after rival bank HSBC rolled out RedCoin, its Hong Kong dollar backed stablecoin, on Friday. RedCoin is aimed at the 3.3 million people who use the PayMe app, giving HSBC an early lead in reaching retail customers.

Who Is Behind the Anchorpoint Stablecoin Venture

Anchorpoint grew out of a partnership between Standard Chartered, Animoca Brands and telecom provider HKT, announced in February 2025. The three firms had earlier taken part together in Hong Kong’s stablecoin issuer sandbox in July 2024. Animoca contributes its blockchain know-how and industry network, and it helps shape practical uses for the stablecoin across the wider Web3 space.