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HSBC launches its first Hong Kong dollar stablecoin through PayMe
HSBC has introduced RedCoin, its first stablecoin denominated in Hong Kong dollars. The bank said the token, also known as RCHKD, will be available through PayMe starting Friday. Customers will be able to activate a stablecoin wallet in the app in the coming days for peer-to-peer transfers 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. John O’Neill, the bank’s managing director for digital assets and currencies, said HSBC plans to introduce more products and expand…
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