Update
HSBC’s RedCoin Stablecoin Gains 50,000 Users in Hong Kong
HSBC’s RedCoin stablecoin, pegged to the Hong Kong dollar, has gained 50,000 users in Hong Kong within a week. The bank launched RedCoin through its own payment app PayMe, which has over 3.3 million users. Customers can now set up a RedCoin wallet to send tokens and pay merchants that accept it. HSBC plans to expand access through its Hong Kong mobile banking app and use RedCoin for tokenized investment products.