HSBC unveiled the official name of its forthcoming Hong Kong dollar stablecoin on Tuesday, September 30, calling it HSBC RedCoin ahead of a launch planned before the end of the year, according to a bank announcement. The lender said it will issue the coin under a stablecoin licence granted by the Hong Kong Monetary Authority (HKMA) in April 2026 and, at launch, will offer it only through PayMe and the HSBC HK Mobile App.