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HSBC launches Hong Kong dollar stablecoin RedCoin on PayMe
HSBC has introduced RedCoin, its first stablecoin denominated in Hong Kong dollars. The bank announced that the token, also known as RCHKD, will be available via its PayMe service starting Friday. In the coming days, users can set up a stablecoin wallet in the app for peer-to-peer transactions and payments to more than 100,000 merchants. HSBC Hong Kong CEO Maggie Ng said money, assets and information are moving from traditional infrastructure to digital networks that are always available, rich in data and increasingly programmable.
HSBC’s managing director for digital assets and currencies…
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