HSBC Unveils RedCoin Stablecoin, Plans HK$100 Tokenised Fund Investments

HSBC is expanding the use of its Hong Kong dollar-pegged stablecoin, RedCoin, to over 3.3 million PayMe users for peer-to-peer transfers and merchant payments. By the end of 2026, RedCoin will be integrated into HSBC's mobile banking app, with the first tokenised investment product being a Hong Kong equity fund.