HSBC Launches Hong Kong Dollar Stablecoin for Everyday Payments

T2Covered by 1 source · first reported by PYMNTS at 23 Oct, 19:46 UTC

HSBC has launched its first stablecoin, HSBC RedCoin (RCHKD), in Hong Kong, saying in a Friday (Oct. 23) press release that it is built for everyday payments and transactions. HSBC RedCoin is licensed and regulated by the Hong Kong Monetary Authority (HKMA), is Hong Kong dollar (HKD) denominated…