Search results for HSBC Orion
Crypto
HSBC launches first Hong Kong dollar stablecoin RedCoin for retail customers
HSBC has launched its first Hong Kong dollar-based stablecoin, RedCoin, for retail customers, The Block reported on Thursday. The stablecoin, RedCoin (RCHKD), can be used on HSBC’s PayMe payments app from Oct. 23. Users will be able to activate a stablecoin wallet within days and use it for person-to-person transfers and payments at more than 100,000 merchants. HSBC is one of three Hong Kong commercial banks authorised to issue Hong Kong dollar banknotes.
Fintech
HSBC enters UK digital securities sandbox after Bank of England approval
HSBC has received Bank of England approval to operate its digital asset platform, HSBC Orion, in the UK Digital Securities Sandbox. According to Cointelegraph, the platform supports the issuance, post-trade servicing and settlement of digital securities. HSBC Orion will operate as a digital securities depository within the sandbox. The platform supports bonds issued directly in digital form, including the planned UK digital gilt instrument and corporate bonds.
Crypto
KB Kookmin Bank issues first US dollar digital bond by a Korean bank
KB Kookmin Bank has successfully issued a blockchain-based US dollar digital bond, the first such deal by a South Korean bank. The bank said it sold a $100 million two-year digital bond with HSBC as sole arranger. The bond was issued via the HSBC Orion digital asset platform and linked to a clearing and settlement system run by a central securities depository under the Hong Kong Monetary Authority.