🏦🇭🇰 Banking giant HSBC has launched its own stablecoin for millions of customers
One of the world’s largest banks has begun a phased rollout of HSBC RedCoin (RCHKD), a stablecoin pegged 1:1 to the Hong Kong dollar.
➖ 3.3 million PayMe users — the potential audience for the new stablecoin.
➖ Payments and transfers — RedCoin can be used to send money between people and pay for purchases at more than 100,000 merchant locations.
➖ Tokenized investments — by the end of the year, HSBC plans to add the option to buy these products through its banking app.
One of the world’s largest banks has begun a phased rollout of HSBC RedCoin (RCHKD), a stablecoin pegged 1:1 to the Hong Kong dollar.
➖ 3.3 million PayMe users — the potential audience for the new stablecoin.
➖ Payments and transfers — RedCoin can be used to send money between people and pay for purchases at more than 100,000 merchant locations.
➖ Tokenized investments — by the end of the year, HSBC plans to add the option to buy these products through its banking app.