HSBC named the stablecoin RedCoin, focusing on P2P and P2M payments in the first phase

Odaily Planet Daily News HSBC named its Hong Kong stable currency HSBC RedCoin. The first phase will focus on person-to-person (P2P) and person-to-merchant (P2M) payments, and will later be expanded to the industrial, commercial, financial and corporate levels. HSBC Hong Kong Chief Executive Officer and General Manager of Retail Banking and Wealth Management Business Ng Yeung Yu-ru said that the launch of stablecoins is the beginning of supporting financial innovation in Hong Kong. (HK01 NFT)