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Standard Chartered-led Anchorpoint says it’s not rushing retail stablecoin
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Anchorpoint, a Hong Kong dollar-backed stablecoin venture led by Standard Chartered, is taking a cautious approach to retail users and has declined to confirm a launch date. CEO Dominic Maffei did not reaffirm the earlier target of retail access by the end of 2026. The venture released its institutional product in August.
Anchorpoint grew out of a partnership between Standard Chartered, Animoca Brands and telecom provider HKT, announced in February 2025. The tie-up followed the companies’ joint participation in Hong Kong’s stablecoin issuer sandbox in July 2024. Animoca brings blockchain expertise and Web3 network to the venture.
The update came after HSBC launched its Hong Kong dollar-backed RedCoin on Friday for the 3.3 million users of its PayMe app. The HSBC move gives retail consumers an immediate regulated stablecoin option. Anchorpoint had previously indicated that a retail offering could arrive as early as the end of 2026.
Speaking at a Friday press conference, Maffei said Anchorpoint would be prudent. “We believe it’s important to build the market out in a long-term, sustainable manner,” he said, adding that rushing a launch “does not make sense.” The company did not provide a new timetable.
The cautious stance suggests Hong Kong’s regulated stablecoin market may develop more slowly than some expected. Retail access requires compliance, consumer-protection and risk controls. Anchorpoint’s institutional-first path may reduce regulatory risk while the market matures.
HSBC’s RedCoin launch increases competitive pressure. Rival HashKey has also begun beta distribution of its Hong Kong-regulated HKDAP stablecoin. Anchorpoint’s slower approach may avoid volatility and regulatory missteps, but it could cede early retail momentum.
Anchorpoint says retail remains a goal, but its timeline is uncertain. The venture will focus on sustainable market building, Maffei said. Observers will watch whether the delayed launch leaves more ground to HSBC and other issuers.
