HSBC LAUNCHES FIRST STABLECOIN

Summary from the TLDR Fintech newsletter

The coin is available in Hong Kong through the bank's PayMe channel, a P2P network for Hong Kong consumers. The 3.3 million users of PayMe will be able to make payments to friends and merchants and, in the near future, will be able to invest in tokenised assets. RedCoin is licensed and regulated by the Hong Kong Monetary Authority and is HKD-denominated.