[HSBC Names Stablecoin RedCoin, First Phase Focuses on P2P and P2M Payments] Odaily Planet Daily News: HSBC has named its Hong Kong stablecoin HSBC RedCoin, with the first phase focusing on peer-to-peer (P2P) and peer-to-merchant (P2M) payments. Subsequent phases will expand to commercial finance and corporate-level applications. HSBC Hong Kong CEO and Head of Retail Banking and Wealth Management, Maggie Ng, stated that the launch of the stablecoin marks the beginning of supporting financial innovation in Hong Kong. (HK01 NFT)