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Anchorpoint Confirms Hong Kong Dollar Stablecoin Retail Launch Before Year-End
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Anchorpoint confirms retail HKD stablecoin launch planned before year-end, with caution. Joint venture of Standard Chartered and Animoca Brands will not rush launch.
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Anchorpoint delays retail HKD
Anchorpoint, the Standard Chartered and Animoca Brands joint venture in Hong Kong, confirmed it will launch a retail-focused version of its HKD stablecoin before year-end but said it will not rush the rollout to ensure long-term market sustainability. Anchorpoint CEO Dominic Maffei said the company’s next milestone focuses on bringing regulated digital money into everyday payments and commercial applications, while he said “a lot of considerations need to be made” before making the blockchain-powered product available to retail users.
Maffei said Anchorpoint has to build a long-term, sustainable market around the stablecoin, and he argued that “rushing things the wrong way doesn’t make sense.” Anchorpoint said its business-to-business-to-consumer model features an “open and inclusive ecosystem,” and it described cross-border capabilities as its “key use case.”
HSBC RedCoin pressures timing
HSBC introduced its RedCoin stablecoin to more than 3.3 million PayMe users, and Anchorpoint’s retail plans moved into sharper focus after the rival rollout. Dominic Maffei declined to confirm a launch date at a Friday press conference, saying “It is not reasonable to rush the launch.”
Anchorpoint also told reporters it has not set a launch date for its Hong Kong dollar-pegged stablecoin for retail investors, even after it launched an institutional stablecoin service in August. Maffei said “What matters is building the market in a way that is sustainable over the long term,” as Anchorpoint kept its cautious approach while HSBC moved ahead with RedCoin.
Regulatory sandbox and next steps
Anchorpoint said it entered Hong Kong’s regulatory sandbox for stablecoin issuers in July 2024, and the venture was formed through cooperation among Standard Chartered, Animoca Brands, and HKT. Anchorpoint said it plans to connect the token with a broader range of services in the Web3 ecosystem, and it described its stablecoin as pegged 1:1 to the Hong Kong Dollar.
DeFiLlama showed that HKDAP has a circulating supply of 16.11 million, translating to a market cap equivalent to $2.05 million, while Chainalysis’ 2026 Global Crypto Adoption Index identified the SAR as an emerging regulatory framework driving stablecoin adoption globally. Anchorpoint said the stablecoin’s 24/7, instantaneous, cost-efficient, scalable, programmable, and interoperable elements complement it, and it framed the product as a way to bridge traditional payment infrastructure with emerging trends in digital finance.