Standard Chartered-led Anchorpoint plans retail stablecoin as HSBC RedCoin launches
After HSBC RedCoin launched on Friday, Anchorpoint – the stablecoin-issuing joint venture led by Standard Chartered – said it plans to launch a retail product on a public blockchain, even as it takes a “prudent approach”. “Our next major milestone is to [help] bring regulated digital money into everyday payments and commercial applications, while connecting traditional payment infrastructure with…
Standard Chartered-led Anchorpoint plans to launch a retail stablecoin on a public blockchain, following HSBC's recent launch of RedCoin in Hong Kong. Dominic Maffei, CEO of Anchorpoint, emphasized the importance of a long-term, sustainable approach to building a market for retail stablecoins. Anchorpoint's retail product could be available by the end of 2026, though no exact launch date was confirmed at a press conference.
The stablecoin will operate on a public blockchain and is expected to facilitate retail payments and commercial applications, connecting traditional payment infrastructure with emerging digital finance. Anchorpoint's CEO highlighted the advantages of stablecoins, such as 24/7 operation, instant transactions, cost reduction, programmability, interoperability, and scalability.
Stablecoins are digital tokens issued on a blockchain that can be transferred between parties within seconds, pegged to traditional currencies like the Hong Kong dollar or US dollar.
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