๐ $RCHKD: HSBC Launches Hong Kong Dollar Stablecoin on PayMe
HSBC rolled out its retail Hong Kong-dollar stablecoin, $RCHKD, integrating peer transfers and merchant checkouts directly into its PayMe app. The rollout allows over 3.3 million users to activate built-in stablecoin wallets backed one-for-one by fiat reserves. HSBC Digital Assets Custody provides custodial backing, with planned integrations across standard mobile banking later this year. However, initial access remains confined to Hong Kong retail PayMe accounts.
#RCHKD #Stablecoins #Adoption
HSBC rolled out its retail Hong Kong-dollar stablecoin, $RCHKD, integrating peer transfers and merchant checkouts directly into its PayMe app. The rollout allows over 3.3 million users to activate built-in stablecoin wallets backed one-for-one by fiat reserves. HSBC Digital Assets Custody provides custodial backing, with planned integrations across standard mobile banking later this year. However, initial access remains confined to Hong Kong retail PayMe accounts.
#RCHKD #Stablecoins #Adoption