HSBC introduces RedCoin stablecoin and plans tokenised fund investments

HSBC is rolling out its Hong Kong dollar-pegged RedCoin stablecoin to over 3.3 million PayMe users for peer-to-peer transfers and merchant payments.

The bank plans to integrate RedCoin into its mobile banking application by the end of 2026 to facilitate customer access to tokenised investment products.

The first offering is expected to be a Hong Kong dollar money market fund with a minimum subscription amount of HK$100.