HSBC Says RedCoin Reached 50,000 Users After Hong Kong Launch

HSBC said its Hong Kong dollar stablecoin, HSBC RedCoin, reached 50,000 users just over a week after launch, giving the bank its first reported measure of customer adoption. HSBC Group CEO Georges Elhedery disclosed the figure Monday at Hong Kong FinTech Week. He said the bank aims to reach millions of users and credited Hong Kong’s regulatory environment for the early uptake. The payment app has more than 3.3 million users, a potential customer base distinct from the reported 50,000 RedCoin users. RedCoin supports merchant payments and wallet top-ups.

Source: TokenPost