HSBC announced today that it will officially name the upcoming stablecoin “HSBC RedCoin” and announced the results of a survey covering more than 1,000 local customers, showing that local consumers are ready for the launch of stablecoins. HSBC said the survey results support HSBC's policy of implementing stablecoin products in stages. The first phase will focus on person-to-person and person-to-merchant payments, starting with use cases directly and close to everyday life, and later expanding to commercial finance and enterprise levels, keeping up with the development of digital assets and currency in Hong Kong. According to information, in April of this year, the Hong Kong Monetary Authority granted the first batch of HKD stablecoin issuer licenses to two financial institutions, HSBC and Standard Chartered. HSBC previously stated that it will officially launch a Hong Kong dollar stablecoin in the second half of this year.

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