(1 October 2026 – Hong Kong) HSBC has revealed that its forthcoming Hong Kong-dollar denominated stablecoin will be branded RedCoin.
The bank plans to launch under a stablecoin issuer licence granted in April 2026, with the rollout expected in the second half of this year, initially available exclusively through PayMe and the HSBC HK Mobile App.
The launch will follow a phased approach, beginning with everyday retail use cases such as person-to-person and person-to-merchant payments, before expanding to wholesale corporate and institutional applications. Alongside the launch, HSBC will roll out a public education series covering scam prevention and redemption mechanisms across its apps, website, and social media channels.
“Launching our coin is just the beginning,” said Maggie Ng, CEO Hong Kong and head of retail banking and wealth at HSBC. “Our goal is to support Hong Kong’s financial innovation, underpinned by the security, trust and simplicity that define HSBC.”