www.scmp.com Anchorpoint Delays Retail Stablecoin Amid HSBC's RedCoin Launch
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- •Anchorpoint will not rush its retail stablecoin launch, prioritizing market sustainability.
- •HSBC recently launched its RedCoin stablecoin for millions of users.
- •Anchorpoint's institutional stablecoin was launched in August 2026.
Anchorpoint, a joint venture led by Standard Chartered and Animoca Brands, has decided not to rush the launch of its Hong Kong dollar-backed retail stablecoin. CEO Dominic Maffei stated that the company aims for a sustainable market approach and did not reaffirm a previously suggested timeline for release. This cautious stance follows HSBC's recent launch of its own stablecoin, RedCoin, which is now available to 3.3 million users of its PayMe app. Anchorpoint had initially indicated a potential retail launch by the end of 2026 but is now focusing on careful market development. The venture's institutional stablecoin was launched in August 2026, and it aims to connect traditional payment systems with digital finance applications. The partnership was formed in February 2025, with a focus on leveraging blockchain technology for everyday payments.
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