HSBC Unveils RedCoin Stablecoin for 3.3 Million PayMe Users in Hong Kong

10/23/2026

HSBC's RedCoin, a Hong Kong dollar stablecoin, went live on PayMe for more than 3.3 million users, with payments at over 100,000 merchants.

10/23/2026

HSBC launches its Hong Kong dollar-backed RedCoin stablecoin for 3.3 million PayMe users, with tokenized investment services planned by year-end.

10/23/2026

The bank said more than 3.3 million PayMe users will be able to activate an in-app wallet in the coming days and use RedCoin at more than 100,000 merchants.

10/23/2026

HSBC is rolling out RedCoin wallets to PayMe users, with plans to support tokenized investment subscriptions and expand into institutional uses.

10/23/2026

HSBC and Standard Chartered-led Anchorpoint received Hong Kong’s first stablecoin issuer licenses in April. Anchorpoint began rolling out HKDAP in August.