HSBC Launches Hong Kong Dollar Stablecoin for Retail Payments
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HSBC has launched RedCoin, a stablecoin redeemable one-for-one for Hong Kong dollars, for transfers and merchant payments via PayMe. More than 3.3 million users can activate wallets in the coming days. HSBC plans to add investment subscriptions later in 2026 and expand the token to institutional uses.
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