Standard Chartered's support for Anchorpoint indicates that although HSBC has already launched RedCoin to PayMe users, the company still plans to make its Hong Kong dollar stablecoin available to retail customers and issue it on a public blockchain, but no specific release date has been committed to yet.

- Anchorpoint plans to allow retail users to use its HKDAP stablecoin, but the launch date has not yet been confirmed.

HSBC began rolling out RedCoin to its 3.3 million PayMe users on October 23.

- Anchorpoint plans to promote cross-border payments through public chains and authorized distributors.

- CEO Dominic Maffei indicates that customer education and infrastructure preparation are priorities before expanding retail access.

According to a report by the South China Morning Post on October 26, Anchorpoint CEO Dominic Maffei stated that despite the intensifying competition among licensed stablecoin issuers in Hong Kong, the company will still introduce regulated digital currencies into daily payment scenarios in a cautious manner.

Previously, the company had set the end of 2026 as a possible timeline for retail integration. However, Maffei refused to confirm this goal at a press conference on Friday, stating that the company must first prepare its distribution network and customer base before proceeding further.

Anchorpoint maintains an open stance on the launch timing of retail stablecoins

At the time of this statement, HSBC had just launched a HKD-denominated RedCoin stablecoin through PayMe, reaching approximately 3.3 million existing users with this product.

As reported by crypto.news on October 23, the bank has begun to roll out the service in phases, allowing customers to activate RedCoin wallets, transfer funds to other users, and make payments to participating merchants.

Anchorpoint has chosen a different approach for its HKDAP stablecoin, relying on authorized distributors to connect financial institutions, enterprises, and ultimately retail customers with this product.

Maffei indicates that the company's next phase of goals is to introduce regulated digital currencies into daily commercial transactions, while also connecting traditional payment infrastructure with blockchain-based financial services.

He said, "This is a type of public chain stablecoin, so when applying it to retail scenarios, many factors need to be considered."

Although Anchorpoint previously indicated that consumer access might begin by the end of 2026, this executive emphasized that establishing a sustainable market is more important than rushing to meet deadlines.

"We believe that it is important to cultivate the market in a long-term and sustainable manner," said Maffei, adding that rushing to launch something "makes no sense."

Public chain payment remains the core of the Anchorpoint plan.

Anchorpoint plans to develop HKDAP as a payment tool for transactions between enterprises, financial institutions, merchants, and individuals.

According to the company's official stablecoin documentation, HKDAP is pegged at a 1:1 ratio to the Hong Kong dollar and is backed by qualified reserve assets that meet Hong Kong's regulatory requirements.

The current institutional test version is running on Ethereum, but it is only available to qualified corporate clients and professional investors.

Users who wish to perform direct wallet transfers must complete the verification process. The smart contract of this token will reject transfers to unverified addresses, allowing the company to maintain compliance while utilizing public chain infrastructure.

In its B2B2C mode, the Anchorpoint plan to collaborate with licensed intermediaries, which will provide hosting, fiat currency exchange, and customer-oriented payment services.

Maffei describes the proposed network as an “open and inclusive ecosystem,” in which partners in the financial services sector can participate in the distribution of regulated digital currencies.

Cross-border payments remain a focus. Maffei points out that 24/7 settlement, lower transaction costs, and interoperability are all potential advantages of stablecoins.

"The goal is to connect Hong Kong to other channels," said Maffei, mentioning the company's previous work in the United Arab Emirates, as well as plans to announce more connections in the future when conditions are ripe.

Standard Chartered Expands Hong Kong's Stablecoin Infrastructure

Anchorpoint launched the institutional version of HKDAP in August, providing payment services, fiat currency exchange, and settlement services for tokenized financial assets to qualified enterprises and professional investors.

This joint venture was established jointly by Standard Chartered Bank (Hong Kong), Animoca Brands, and telecommunications company HKT after participating in the Hong Kong Monetary Authority's stablecoin issuer sandbox.

Its initial distribution arrangements included HashKey Exchange; during the launch of the institutional version, the exchange completed a transaction involving the issuance and redemption of HKDAP.

Anchorpoint has previously disclosed its public chain plans, including the Ethereum mainnet transfer experiment conducted in May this year in collaboration with OSL Group and PantherTrade.

Subsequently, as partners prepared the infrastructure required to support commercial use, the project further expanded its institutional distribution network.

In September, Anchorpoint launched Tokenised Money Adoption Programme, aiming to support education, research, and discussions surrounding blockchain-based currencies.

"Market education is crucial," said Maffei, emphasizing that before customers and financial institutions use regulated stablecoins for daily transactions, they need to first understand them.

The Hong Kong stablecoin market is moving towards retailization.

Anchorpoint and HSBC obtained the first batch of stablecoin issuer licenses in Hong Kong in April 2026, following the implementation of Hong Kong's Stablecoin Regulations in August 2025.

The regulatory framework requires licensed issuers to maintain adequate reserves, fulfill redemption obligations, and comply with governance and financial crime prevention standards.

HSBC’s RedCoin was first launched for payments through its mature PayMe application, while the institutional products of Anchorpoint are provided through approved distribution partners.

Anchorpoint The commonly asked questions publicly released will still be described as possibly achievable by the end of 2026, but this is contingent on the issuance, distribution, hosting, and other supporting infrastructures being fully prepared.

The company has not yet announced a definite date for providing HKDAP to individual retail customers.