Anchorpoint weighs retail stablecoin launch after HSBC RedCoin debut

Standard Chartered-backed Anchorpoint is holding off on confirming retail access to its HKDAP stablecoin, following HSBC's launch of RedCoin for its 3.3 million PayMe users. The timing highlights how Hong Kong banks are racing to roll out tokenized deposit and stablecoin products to consumers. Traders watching stablecoin regulation and bank-issued digital money in Asia should note the competitive pressure this puts on Anchorpoint's rollout schedule.