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HSBC launches Hong Kong dollar stablecoin through PayMe app

HSBC rolled out its Hong Kong dollar stablecoin named RedCoin on Oct. 23. The token launched through the PayMe payments app. The rollout reaches over 3.3 million users and over 100,000 merchants.

  • HSBC launched its RedCoin Hong Kong dollar stablecoin on Oct. 23 through the PayMe payments app.
  • The PayMe network has a reach of more than 3.3 million users and over 100,000 merchants.
  • RedCoin is backed by segregated, liquid, high-quality assets covering coins outstanding at all times.
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