HSBC launches RedCoin stablecoin for 3.3 million PayMe users in Hong Kong

• —RedCoin is fully backed by high-quality liquid assets held in segregated accounts
• —Launch follows HKMA's first stablecoin issuer licences granted in April
• —HSBC plans to add the RedCoin wallet to its Hong Kong banking app later this year
• —Standard Chartered's Anchorpoint has been piloting its HKDAP token since August