HSBC RedCoin to Launch for Hong Kong Payments
The planned rollout starts with everyday payments, while survey results point to broad customer awareness of stablecoin uses across trading, transfers and remittances.
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The planned rollout starts with everyday payments, while survey results point to broad customer awareness of stablecoin uses across trading, transfers and remittances.
The planned stablecoin is set to begin with peer-to-peer and merchant payments, putting a major bank's digital-money ambitions in a practical payments setting.
The 11,500-bank messaging backbone finally moves onto a shared ledger, with tokenized deposits earmarked for wholesale settlement and stablecoins pushed into a complementary retail corridor.
DIGIT puts sterling government debt on a Bank of England-sanctioned distributed ledger through HSBC's Orion platform, with the BoE preparing to accept the tokenized gilt as collateral in its own…