[HSBC Officially Names Stablecoin 'HSBC RedCoin,' Initial Focus on P2P and P2M Payments] According to a report by Jinse Finance, HSBC announced today that its upcoming stablecoin will be officially named 'HSBC RedCoin.' The bank also released the results of a survey involving over a thousand local customers, which revealed that local consumers are ready to embrace the launch of stablecoins. HSBC stated that the survey results support its phased approach to rolling out stablecoin products. The first phase will focus on person-to-person (P2P) and person-to-merchant (P2M) payments, starting with use cases closely tied to everyday life. Later, the scope will expand to include commercial finance and corporate applications, aligning with the development of digital assets and currencies in Hong Kong. It is understood that in April of this year, the Hong Kong Monetary Authority granted the first batch of Hong Kong dollar stablecoin issuer licenses to two financial institutions: HSBC and Standard Chartered (via its subsidiary Zodia Markets). HSBC previously announced plans to officially launch its Hong Kong dollar stablecoin in the second half of this year.