HSBC launches HKD stablecoin RedCoin for over 330万 PayMe users
PayMe's 3.3 million users get HSBC's Hong Kong dollar stablecoin RedCoin
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HSBC has launched the Hong Kong dollar-pegged stablecoin RedCoin (RCHKD), making it available to over 330万 PayMe users for transfers to friends and family and payments at more than 100,000 merchants in Hong Kong. Users can activate a stablecoin wallet in the PayMe app in the coming days; RedCoin is licensed and regulated by the Hong Kong Monetary Authority under the local Stablecoins Ordinance.
RedCoin brings a licensed Hong Kong bank’s stablecoin into an existing consumer payments app, while the materials also outline its retail payment use cases and plans to later integrate tokenized investment products.
Source:Cryptopolitan · cryptopolitan.com