Hong Kong
TokenPost
HSBC Launches RedCoin on PayMe... HKDAP Enters Beta via Approved Distributors
- HSBC's RedCoin (RCHKD), a Hong Kong dollar-pegged stablecoin, went live on the PayMe app on October 23, with wallet activation for users phased in over several days.
- Anchorpoint Financial's HKDAP, the first stablecoin to obtain an issuance license, launched the same day in a beta phase available through approved distributors.
- HSBC cited over 3.3 million potential PayMe users and more than 100,000 merchant payment points, with initial use focused on peer-to-peer transfers and merchant payments.