STABLECOINS | HSBC Launches RedCoin, a Hong Kong Dollar-Backed Stablecoin

BitcoinKE · 23/10/2026, 14:00:42

HSBC has launched its first Hong Kong dollar-backed stablecoin, RedCoin, through its PayMe payments platform, targeting more than 3.3 million users as the bank expands its digital asset business. The stablecoin, which is licensed and regulated by the Hong Kong Monetary Authority (HKMA), will initially support peer-to-peer transfers and payments at more than 100,000 merchants through PayMe. Users will be able to activate wallets in the app in the coming days, HSBC said. REGULATION | China Formalizes a Broad […]