Standard Chartered-led Anchorpoint says it’s not rushing retail stablecoin
The Standard Chartered and Animoca Brands joint venture previously targeted retail access as early as the end of 2026, but its CEO declined to reaffirm that timeline.
Standard Chartered's Anchorpoint venture, formed with Animoca Brands, has decided against a hasty rollout of its retail stablecoin. The company, which previously aimed to make its Hong Kong dollar-backed stablecoin available to retail users by the end of 2026, has opted for a more measured approach. Anchorpoint CEO Dominic Maffei, speaking at a press conference, stated that the firm believes it is crucial to develop the market in a sustainable, long-term manner.
This stance comes in the wake of HSBC's recent launch of its own Hong Kong dollar-backed stablecoin, RedCoin, for the app's 3.3 million users. Anchorpoint was established in February 2025 through a joint venture involving Standard Chartered, Animoca Brands, and telecommunications provider HKT. Animoca's contribution to the venture lies in its blockchain expertise and industry network, aimed at exploring various applications for the stablecoin across the Web3 ecosystem.
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