HSBC Launches Regulated HKD Stablecoin RedCoin for Over 3.3 Million PayMe Users
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HSBC rolls out its first HKD-pegged stablecoin RedCoin (RCHKD) to more than 3.3 million PayMe users for P2P and merchant payments under HKMA licence. HSBC has launched its first stablecoin, HSBC RedCoin (RCHKD) , a Hong Kong dollar-denominated token now available on the bank’s PayMe app, marking a significant step in regulated retail stablecoin adoption in the city. According to the official HSBC announcement on October 23, 2026, over 3.3 million PayMe users will be able to activate a stablecoin wallet in the coming days for peer-to-peer payments to friends and family as well as peer-to-merchant transactions at more than…
Source: Cryptopress
