HSBC plans to launch Redcoin, a Hong Kong dollar-denominated stablecoin, in the second half of 2026 for person-to-person transfers and merchant payments. Initial access will be limited to PayMe and the HSBC HK Mobile App, with a phased expansion to wholesale corporate and institutional applications. A survey of 1,060 HSBC customers found that 74% recognized at least one stablecoin use case, while regulatory clarity and education ranked among the leading priorities for building confidence. The Hong Kong Monetary Authority granted HSBC a stablecoin issuer license on April 10, after the city’s Stablecoins Ordinance took effect on Aug. 1, 2025. HSBC also plans public education on scam prevention and how users can redeem holdings for cash.