HSBC Launches RedCoin Stablecoin for 3.3 Million PayMe Users

HSBC RedCoin Stablecoin is launching in stages from October 23, 2026, for more than 3.3 million users of Hong Kong’s PayMe payment app. The Hong Kong dollar-backed digital currency initially supports person-to-person transfers and payments to merchants, extending HSBC’s digital asset services into everyday retail transactions. The rollout allows PayMe users to activate RedCoin wallets without opening additional accounts or maintaining minimum balances. According to a recent Post , customers can update their app, select the wallet and make instant transfers through an interface similar to the existing PayMe experience. HSBC expects access to expand before the weekend.