HSBC announces Hong Kong stablecoin named HSBC RedCoin to launch via PayMe by year-end

HSBC announced on Wednesday that its Hong Kong stablecoin will be named HSBC RedCoin, set to launch before the end of the year, initially available through PayMe and the HSBC Hong Kong mobile banking app. PayMe currently has more than 3.3 million users and can be used for transfers, shopping and dining. HSBC said it is optimistic about retail applications and cited a survey in which 74% of respondents..., although the relevant details were cut off in the feed.