Key facts
- Anchorpoint plans to launch a retail stablecoin on a public blockchain.
- HSBC launched its Hong Kong dollar stablecoin, RedCoin, on Friday.
- RedCoin is designed to be redeemable one-for-one for Hong Kong dollars.
- HSBC received its stablecoin issuer license in April.
- Anchorpoint Financial also received its stablecoin issuer license in April.
Anchorpoint, a stablecoin-issuing joint venture led by Standard Chartered, announced plans to launch a retail stablecoin on a public blockchain, following HSBC's recent launch of its Hong Kong dollar stablecoin, RedCoin. HSBC's RedCoin is available to over 3.3 million PayMe users and is designed for transfers and merchant payments, with plans to expand into tokenized investment subscriptions and institutional uses. Both HSBC and Anchorpoint Financial were among the first companies approved under Hong Kong's stablecoin regulatory framework in April. Anchorpoint's CEO, Dominic Maffei, stated the venture's next milestone is to integrate regulated digital money into everyday payments and commercial applications.