HSBC launched RedCoin, its first stablecoin, for public use in Hong Kong via PayMe P2P (3.3M users). Users can pay friends and merchants; tokenised asset investing planned.
RedCoin is HKMA-licensed, HKD-denominated. Maggie Ng (CEO HK, retail banking & wealth): shift to programmable digital networks with bank-grade trust.
Roadmap: stablecoin wallet in HSBC HK mobile app; tokenised investments including new share class of long-running HKD money market fund. John O’Neill (MD digital assets): expansion to wholesale corporate/institutional use cases.
Follows September 2026 RedCoin brand announcement; this item marks consumer availability through PayMe.