[HSBC Launches Hong Kong Dollar Stablecoin RedCoin via PayMe, 3.3 Million Users Available for Activation] According to Jinse Finance, HSBC has launched its Hong Kong dollar stablecoin, RedCoin (RCHKD), through its PayMe payment app. Wallet activation will be gradually rolled out over the next few days. PayMe boasts over 3.3 million users and over 100,000 merchants, representing a significant potential reach. Users must qualify and activate their stablecoin wallets to exchange RCHKD at a 1:1 ratio (HKD balance minus HK$1) for one RedCoin. RedCoin can be used for transfers within PayMe and for purchases at merchants accepting PayMe. HSBC restricts RedCoin to official channels only, operating on its own distributed ledger network and not on third-party platforms. RedCoin is redeemed at face value, processed within one business day, and is fully backed by segregated, liquid, high-quality assets. It does not accrue interest and is not covered by the Hong Kong Deposit Protection Scheme. Investment subscriptions (including new shares of Hong Kong dollar money market funds) are planned to launch on the HSBC HK App in late 2026. Key limitation: RedCoin is not interoperable between PayMe and the HSBC HK App wallets, and cross-application transfers are prohibited.