Anchorpoint weighs retail stablecoin launch after HSBC RedCoin debut

Standard Chartered-backed Anchorpoint has maintained plans to launch its Hong Kong dollar stablecoin for retail customers on a public blockchain, but has declined to commit to a release date after HSBC introduced RedCoin to PayMe users. Summary Anchorpoint plans retail access to its HKDAP stablecoin but has not confirmed a launch date. HSBC began rolling out RedCoin to its 3.3 million PayMe users on October 23. Anchorpoint is targeting cross-border payments through a public blockchain and authorized distributors. CEO Dominic Maffei says customer education and infrastructure readiness are priorities before expanding retail access. According to an October 26 South China Morning Post report, Anchorpoint CEO Dominic Maffei said the company would take a cautious approach to bringing regulated digital money into everyday payments, despite growing competition among Hong Kong’s licensed stablecoin issuers. Previously, the company identified the end of 2026 as a possible timeline for retail access. However, Maffei declined to confirm that target at a Friday press conference, maintaining that the business must prepare its distribution network and customers before proceeding. Anchorpoint keep...