HSBC Hong Kong named its forthcoming Hong Kong dollar stablecoin HSBC RedCoin on September 30, 2026, and said it planned to roll it out in the second half of 2026. The token had not yet been issued. At launch, access is set to be limited to PayMe and the HSBC HK Mobile App, with no exchange listing.
HSBC says RedCoin will be pegged 1:1 to the Hong Kong dollar and fully backed by segregated, high-quality liquid assets. Initial uses are planned for person-to-person and person-to-merchant payments; wholesale, corporate and institutional settlement is reserved for a later phase. The bank warned that any token already circulating under the “HSBC” or “RedCoin” name is not its product.
