Anchorpoint, the Hong Kong stablecoin venture backed by Standard Chartered, says it is in no hurry to launch a stablecoin for retail users, even as rival HSBC has already gone live.
Speaking at a press conference on Friday, chief executive Dominic Maffei declined to give a timeline for a retail launch, the South China Morning Post reported. He said rushing a launch “does not make sense,” and that building the market sustainably was important.
On the same day, HSBC switched on RedCoin, its Hong Kong dollar stablecoin, for more than 3.3 million eligible users of its PayMe app.
What Anchorpoint is
Anchorpoint is a joint venture between Standard Chartered, blockchain firm Animoca Brands and telecoms provider HKT.
It grew out of a partnership announced in February 2025, after the partners joined Hong Kong’s stablecoin issuer sandbox in July 2024. Animoca’s role is to bring blockchain expertise and develop uses for the stablecoin across Web3.
Institutions first
Anchorpoint launched its stablecoin product for institutional clients in August. It plans a Hong Kong dollar stablecoin for retail users on a public blockchain.
The company had previously said retail access could come as early as the end of 2026. Maffei did not repeat that timeline on Friday.
Two approaches
HSBC has gone straight to consumers through an app with millions of users, on its own private ledger. Anchorpoint is starting with institutions and plans a retail product on a public blockchain, without a fixed date.
What happens next
The next milestone is any retail launch date from Anchorpoint. For now, HSBC has a head start with Hong Kong consumers.
