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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.

Crypto

Alliances accelerate in tokenised securities from issuance to distribution and payment

With the tokenised securities system about 4 months away, partnerships among South Korean financial firms are speeding up. Firms are dividing roles with blockchain, tokenisation, platform and content companies to build business bases linking issuance, distribution and payment. Regulators have proposed amendments to related rules ahead of a Feb. 4, 2027 start date, while caps and capital requirements are set. Market competition is expected to hinge on commercial products and trading after the launch.

Crypto

HSBC Hong Kong to launch Hong Kong dollar-linked stablecoin HSBC RedCoin

HSBC Hong Kong will launch a Hong Kong dollar-linked stablecoin, HSBC RedCoin, in the second half of 2026, CoinPost reported. The initial channels will be the PayMe payments app and the bank’s Hong Kong mobile banking app. The bank will first apply the coin to person-to-person transfers and merchant payments, then expand to wholesale finance for corporates and institutions. The issuance follows a stablecoin licence granted in April.