Daily Market Updates: HSBC RedCoin stablecoin launches for 3.3 million PayMe users in Hong Kong

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HSBC RedCoin stablecoin launches for 3.3 million PayMe users in Hong Kong

Reported · Written up by our desk · North America

HSBC will launch its Hong Kong dollar-backed stablecoin in stages from Friday for more than 3.3 million users of its PayMe app, as the bank pushes to bring digital currencies into the city’s mainstream retail and investment markets. HSBC RedCoin, available only through PayMe and the bank’s Hong Kong mobile banking app, would initially support peer-to-peer transfers and peer-to-merchant payments on PayMe, according to head of PayMe Lawrence Li. Users can activate their HSBC RedCoin wallet, with...

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SCMP EconomyHSBC RedCoin stablecoin launches for 3.3 million PayMe users in Hong Kong

Global Markets

HSBC RedCoin stablecoin launches for 3.3 million PayMe users in Hong Kong

More like this

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