HSBC Launches RedCoin, Targeting More Than 3.3 Million PayMe Users

HSBC has launched its first stablecoin, HSBC RedCoin (RCHKD), with a rollout planned for more than 3.3 million PayMe users and payments at more than 100,000 merchants in Hong Kong. RedCoin transactions are intended to match PayMe’s existing wallet in speed and other aspects. HSBC also plans to offer additional incentives for merchant payments. Staff pilots involved nearly 100 users over recent months, testing token minting, wallet setup and transfers. HSBC plans to expand use cases for corporate and institutional customers and add more products.

Also reported by TronWeekly.

Source: TokenPost