Standard Chartered-backed Anchorpoint remains committed to launching a public blockchain Hong Kong dollar stablecoin for retail users, though no official release date has been confirmed following HSBC’s PayMe introduction of RedCoin.
An October 26 South China Morning Post report noted that Anchorpoint CEO Dominic Maffei plans a measured strategy for integrating regulated digital currency into daily transactions, even as rivalry intensifies among Hong Kong’s licensed stablecoin providers.
Late 2026 was earlier signaled as a potential window for retail launch. Yet Maffei stepped back from that target during a Friday press conference, stressing that the firm needs to ready its distribution network and user base first.
Anchorpoint Leaves Retail Stablecoin Launch Date Undecided
The announcement surfaced soon after HSBC rolled out its Hong Kong dollar-backed RedCoin stablecoin via PayMe, exposing the product to an established audience of roughly 3.3 million users.
A detailed on October 23, a staged rollout was initiated by the bank, letting customers activate RedCoin wallets, transfer funds to peers, and settle payments with participating merchants.
A distinct path has been charted by Anchorpoint for its HKDAP stablecoin, leaning on authorized distributors to bridge financial institutions, businesses, and ultimately retail consumers with the asset.
Maffei stated that the firm’s upcoming milestone centers on embedding regulated digital currency into daily commercial trade, while bridge points are established between legacy payment systems and blockchain-based financial tools.
“This is a public blockchain stablecoin, so applying this to retail, a lot of considerations need to be made,”
he said.
Although consumer access was earlier hinted to start by late 2026, the executive maintained that cultivating a sustainable market takes priority over chasing a tight timeline.
“We believe it’s important to build the market out in a long-term, sustainable manner,” Maffei said, adding that rushing the launch “does not make sense.”
Public Blockchain Payments Remain a Core Focus for Anchorpoint
Anchorpoint aims to build HKDAP into a payment instrument, designed for transactions spanning corporations, financial institutions, merchants, and individual consumers alike.
Based on the firm’s official stablecoin documentation, HKDAP is pegged at a one-to-one ratio with the Hong Kong dollar, backed by eligible reserve assets in compliance with local regulatory standards.
Ethereum currently hosts the institutional beta, though access is limited strictly to eligible corporate clients and professional investors.
Verification procedures must be completed by users seeking direct wallet transfers. The token’s smart contracts block transfers to unapproved addresses, enabling the company to preserve compliance safeguards while running on public blockchain infrastructure.
Through its business-to-business-to-consumer framework, Anchorpoint intends to partner with licensed intermediaries, ensuring custody, fiat conversion, and customer-facing payment services are provided seamlessly.
Maffei depicted the proposed network as an “open and inclusive ecosystem,” where various financial service partners can be engaged to distribute regulated digital currency.
Cross-border payments remain a key priority. Crucial advantages such as round-the-clock settlement, reduced transaction fees, and system interoperability were highlighted by the executive as core benefits of stablecoins.
“The goal is to connect Hong Kong to other corridors,” Maffei said, pointing to earlier operations conducted by the firm in the United Arab Emirates and promising to reveal additional links as they develop.
Standard Chartered Expands Stablecoin Infrastructure in Hong Kong
Anchorpoint launched its institutional HKDAP roll out in August, giving qualified corporate entities and professional investors access to payments, fiat conversion, and settlements executed with tokenized financial assets.
The joint venture was formed by Standard Chartered Bank (Hong Kong), Animoca Brands, and telecom firm HKT following their involvement in the Hong Kong Monetary Authority’s stablecoin issuer sandbox environment.
Its initial distribution structure featured HashKey Exchange, where a transaction involving HKDAP issuance and redemption was completed during the institutional debut.
Anchorpoint previously detailed its public blockchain roadmap, featuring an Ethereum mainnet transfer trial executed alongside OSL Group and PantherTrade back in May.
The project subsequently expanded its institutional distribution network as the infrastructure needed to support commercial adoption was prepared by the partners.
In September, Anchorpoint rolled out its Tokenised Money Adoption Programme, which was designed to foster education, research, and dialogue around blockchain-based currencies.
“Market education is key,” Maffei said, stressing that regulated stablecoins must be fully understood by clients and financial institutions before being used for routine everyday transactions.
Hong Kong Stablecoin Market Moves Closer to Retail Adoption
Anchorpoint and HSBC were granted Hong Kong’s first stablecoin issuer licenses in April 2026, following the rollout of the Stablecoins Ordinance back in August 2025.
Under the regulatory framework, eligible reserves must be maintained by licensed issuers, alongside meeting redemption obligations and adhering strictly to governance and financial crime prevention standards.
HSBC’s RedCoin rollout debuted with payments processed through its established PayMe application, while Anchorpoint’s institutional product remains available through approved distribution partners.
Anchorpoint’s published FAQs continue to outline a potential full launch by the end of 2026, though execution remains contingent on whether the underlying issuance, distribution, custody, and supporting infrastructure can be fully prepared in time.
A firm date for making HKDAP accessible to individual retail clients has not been disclosed by the company.
