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HSBC RedCoin Stablecoin Set for Hong Kong Launch
HSBC said the token will start with peer-to-peer and merchant payments and will reach more than 3.3 million PayMe users first.
- On Wednesday, HSBC named its forthcoming stablecoin HSBC RedCoin, planning to roll it out to more than 3.3 million PayMe users in Hong Kong later this year.
- The Hong Kong Monetary Authority granted HSBC a license under the Stablecoins Ordinance, which took effect Aug. 1, 2025, establishing a regulatory framework for fiat-referenced digital assets.
- Among 1,060 customers surveyed by HSBC, 74 per cent recognized at least one stablecoin use case, with 57 per cent citing digital asset trading and 53 per cent noting person-to-person transfers.
- Initial access will be limited to HSBC-controlled channels, specifically PayMe and the Mobile App, with the rollout focusing on person-to-person transfers and merchant payments before expanding to corporate and institutional applications.
- HSBC warned that no RedCoin has been issued yet, advising customers to remain alert to investment scams after The HKMA previously flagged tokens falsely using the bank's name.
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Following a survey of its local customers, the Hong Kong branch of the banking giant HSBC announces the launch of the stablecoin "HSBC RedCoin". An operation presented as progressive, which will initially concern "simple daily use cases". We're taking stock. The article HSBC Hong Kong launches its stablecoin RedCoin appeared first on Cryptoast.
HSBC Names Hong Kong Dollar Stablecoin RedCoin
BitcoinWorld HSBC names Hong Kong dollar stablecoin RedCoin HSBC named its forthcoming Hong Kong dollar stablecoin HSBC RedCoin on September 30, 2026, according to Crypto.news, keeping the expected launch inside the second half of this year.… This post HSBC names Hong Kong dollar stablecoin RedCoin first appeared on BitcoinWorld.
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