HSBC launches Hong Kong dollar stablecoin RedCoin
HSBC HSBC Holdings plc ADR
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View chart & analysis → - 1HSBC launched its first stablecoin, HSBC RedCoin, on the PayMe payment app on October 23.
- 2Over 3.3 million PayMe users who can activate stablecoin wallets in the coming days can use it to send money to friends or family or make payments at more than 100,000 merchants.
- 3HSBC plans to introduce a wallet to the HSBC HK mobile banking app by the end of this year to allow customers to subscribe to tokenized investment products using RedCoin.
So what's the key point?
HSBC has released a new digital currency that can be used on its payment app. More than 3.3 million users will be able to make transfers and payments more easily.
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