HSBC rolling out HKD stablecoin RedCoin to PayMe retail users, The Block reports

CIE News ·

Based on reporting by The Block; not yet independently confirmed.

HSBC is rolling out its first HKD-denominated stablecoin, RedCoin, to retail users through its PayMe app for peer-to-peer and merchant payments, according to The Block.

HSBC is rolling out its first HKD-denominated stablecoin, RedCoin, to retail users, according to The Block. PayMe users will be able to activate a dedicated stablecoin wallet directly within the mobile application. The token is designed to support both peer-to-peer transfers and peer-to-merchant payments.

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