HSBC launches first stablecoin RedCoin for payments in Hong Kong

HSBC has launched RedCoin, its first stablecoin for payments in Hong Kong. More than 3.3 million PayMe users will be able to activate an in-app wallet and pay at over 100,000 merchants.

• RedCoin stablecoin is available through the PayMe app
• Over 3.3 million users will be able to activate the wallet
• Payments are accepted at more than 100,000 merchants