Anchorpoint, a joint venture backed by Standard Chartered, Animoca Brands, and HKT, is adopting a cautious strategy regarding the retail launch of its Hong Kong dollar-backed stablecoin. CEO Dominic Maffei stated that the company prioritizes long-term, sustainable market development over a rapid rollout, declining to confirm previous expectations for a retail release by the end of 2026.
The venture previously launched an institutional stablecoin product in August. The partnership between Standard Chartered, Animoca Brands, and HKT was formally announced in February 2025, following their participation in the Hong Kong stablecoin issuer sandbox starting in July 2024. Animoca Brands contributes blockchain expertise and network support for Web3 ecosystem integration.
This update follows the recent launch of RedCoin by HSBC, which is now available to 3.3 million users of the bank's PayMe application. The competitive landscape in the region also includes HashKey, which has initiated beta distribution for its own Hong Kong-regulated stablecoin, HKDAP.
