HSBC RedCoin Goes Live, and Tokenized Funds Are Next

HSBC RedCoin, the bank’s Hong Kong dollar stablecoin, is now live inside the PayMe payments app. Customers can send RedCoin and pay merchants without opening a crypto wallet or exchange account. The bank plans to use RedCoin for tokenized fund subscriptions before the end of 2026. HSBC has yet to disclose which blockchain RedCoin runs on or how many tokens are in circulation. HSBC began rolling out RedCoin , its Hong Kong dollar stablecoin, to PayMe users on October 23, placing a regulated digital token directly inside a payments app that more than 3.3 million people and over 100,000 merchants…