EconomicChina·22 Oct 2026
HSBC launches Hong Kong dollar-backed stablecoin for PayMe users
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HSBC launched its Hong Kong dollar-backed stablecoin, HSBC RedCoin, for more than 3.3 million PayMe users in Hong Kong. The digital currency became available through the PayMe app and the bank's mobile banking platform, initially supporting peer-to-peer transfers and peer-to-merchant payments. Head of PayMe Lawrence Li stated that the rollout occurred in…
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