Standard Chartered-supported Anchorpoint says it will not rush the launch of a retail stablecoin.
According to the South China Morning Post, Anchorpoint, a stablecoin project backed by Standard Chartered Bank, said it will take a cautious approach to opening its Hong Kong dollar-backed stablecoin to retail users. Following its competitor HSBC’s launch of RedCoin, the company declined to confirm a specific launch date.
The joint venture launched its institutional stablecoin product in August and has indicated that a retail version could be introduced as early as the end of 2026.
At Friday's press conference, Dominic Maffei, CEO of Anchorpoint, did not confirm the timeline and stated that the company would take a cautious approach.
Maffei said, “We believe it is important to build this market in a long-term, sustainable way.” He added that rushing the launch “doesn’t make sense.”
Prior to this statement, HSBC launched its Hong Kong dollar-backed RedCoin on Friday, making it available to its 3.3 million PayMe users.
Anchorpoint stems from a collaboration between Standard Chartered, Animoca Brands, and telecommunications provider HKT. The three parties announced their partnership in February 2025, following their joint participation in Hong Kong’s stablecoin issuer sandbox in July 2024.
Animoca’s role in this project is to provide blockchain expertise and industry networks to the joint venture, and to help develop use cases for the stablecoin within the Web3 ecosystem.
Related report: HashKey has begun testing the distribution of HKDAP, a stablecoin regulated by Hong Kong.