POPA ReconHSBC named its Hong Kong stablecoin RedCoin
HSBC HOLDINGS PLC ($HSBC)
The coin is pegged to the Hong Kong dollar and will launch in the second half of 2026. At launch it will be only in PayMe and in the HSBC HK mobile app, first for transfers between people and payment in stores, then for corporations and institutions.
Use only the official channels of HSBC and PayMe: fake tokens have already been made under the bank name.
Facts
In late April, Banking Hong Kong warned about fake tokens under the HSBC name. HSBC states that it is not connected to any fraudulent stablecoins. [@BanklessTimes, April 29, 2026]
On September 30, 2026, HSBC announced the official name of its future stablecoin: HSBC RedCoin. The coin is denominated in Hong Kong dollars.
HSBC writes that launch is planned for the second half of 2026 under the new license issued in April 2026. At launch the coin will be available only through PayMe and the HSBC HK mobile app. So far HSBC has not issued any stablecoin in Hong Kong.
The launch is phased: first P2P and P2M payments, then wholesale corporate and institutional use cases. In parallel, the bank will launch an educational series on fraud protection and the redemption procedure.
HSBC surveyed 1,060 clients: 74% see a use for the stablecoin. Trust would be raised by regulatory clarity (62%), education (55%), fraud protection (53%), fast exchange to cash (51%) and reserve transparency (39%). [about.hsbc.com.hk]
Awaiting
Exact launch date: HSBC named only the second half of 2026 and promises updates later.
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