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HSBC launches Hong Kong dollar stablecoin RedCoin on PayMe
HSBC has introduced RedCoin, its inaugural stablecoin tied to the Hong Kong dollar. According to the bank, it will be accessible via its PayMe service beginning on Friday. Over the next few days, customers will have the option to set up a stablecoin wallet within the app for sending money directly to individuals and making purchases at over 100,000 retailers.
John O’Neill, HSBC’s managing director for digital assets and currencies, stated that the bank intends to roll out additional offerings in the near future and broaden its reach into wholesale corporate and institutional markets. This…
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