The Hong Kong dollar stablecoin RedCoin will gradually be activated on PayMe, and HSBC launches wallet services

Odaily reports that HSBC has launched the Hong Kong dollar stablecoin RedCoin (RCHKD) through PayMe, with wallet activation to be gradually rolled out over the coming days. PayMe has over 3.3 million users and more than 100,000 merchants. After eligible users activate their wallets, they can redeem 1 RedCoin for every 1 HKD deducted from their Hong Kong dollar balance at a 1:1 ratio, and can transfer funds within PayMe or make purchases at merchants that accept PayMe.