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Crypto briefing · Friday, October 23, 2026 · Evening edition · Story 5 of 5
HSBC launches HKD-backed RedCoin stablecoin for 3.3M PayMe users
HSBC has launched its first stablecoin, RedCoin, through its PayMe mobile payments platform, targeting over 3 million users. The stablecoin is backed by Hong Kong dollars and supports instant payments, with tokenized investment plans for 2026.
Why it matters: This move brings blockchain-based financial services closer to mainstream use in Hong Kong, offering new payment and investment options to everyday users.
Sources: Bitcoin.com News · Crypto.news · CoinDesk
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