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Standard Chartered-backed stablecoin venture Anchorpoint says it will take a cautious approach to opening its Hong Kong dollar-backed stablecoin to retail users, declining to confirm a launch date after rival HSBC rolled out RedCoin, <a href="https://www.scmp.com/business/cryptocurrency/article/3372060/standard-chartered-led-anchorpoint-plans-retail-stablecoin-hsbc-redcoin-launches" rel="noopener noreferrer nofollow">according</a> to the South China Morning Post.
The <a href="https://ct.com/news/standard-chartered-animoca-brands-hong-kong-stablecoin-license" rel="noopener noreferrer nofollow">venture</a> released its institutional stablecoin product in August and previously <a href="https://anchorpoint.hk/faqs/" rel="noopener noreferrer nofollow">indicated</a> a retail offering could arrive as early as the end of 2026.
Anchorpoint CEO Dominic Maffei declined to confirm that timeline at a Friday press conference, saying the company would take a prudent approach.
“We believe it’s important to build the market out in a long-term, sustainable manner,” Maffei said, adding that rushing a launch “does not make sense.”
The update comes after <a href="https://ct.com/news/hsbc-launches-redcoin-hong-kong-dollar-stablecoin-payme" rel="noopener noreferrer nofollow">HSBC launched its Hong Kong dollar-backed RedCoin</a> on Friday for the 3.3 million users of its PayMe app.
<a href="https://ct.com/news/standard-chartered-animoca-brands-hong-kong-stablecoin-license" rel="noopener noreferrer nofollow">Anchorpoint grew out of a partnership</a> between Standard Chartered, Animoca Brands and telecommunications provider HKT, which was announced in February 2025, following their joint participation in Hong Kong’s stablecoin issuer sandbox in July 2024.
Animoca’s role is to bring its blockchain expertise and industry network to the venture and help develop uses for the stablecoin across the Web3 ecosystem.
Related: <a href="https://ct.com/news/hashkey-begins-beta-distribution-of-hong-kong-regulated-hkdap-stablecoin" rel="noopener noreferrer nofollow">HashKey begins beta distribution of Hong Kong-regulated HKDAP stablecoin</a>

Standard Chartered-led Anchorpoint says it’s not rushing retail stablecoin

Cointelegraph

Other articles published on Oct 26, 2026

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