According to the South China Morning Post, HSBC will gradually launch the Hong Kong dollar stablecoin HSBC RedCoin to over 3.3 million users of its PayMe application starting from October 23rd. The first phase will support instant transfers between PayMe users and payments to merchants. After users update the application, they can activate the RedCoin wallet without the need for additional account opening or meeting the minimum balance requirement. It is expected to be fully promoted before the end of this week. HSBC also plans to fully integrate RedCoin into its Hong Kong mobile banking application by the end of the year, supporting users to instantly subscribe to tokenized money market funds and other assets for a minimum of HKD 100. In the future, it will also expand to tokenized gold and third-party fund products. https://www. (wublock123.com)/news/hsbc-launches-stablecoin-redcoin-for-3-3m-payme-users-70567