HSBC RedCoin stablecoin hits 50,000 users; HKMA expands tokenized settlement to 24/7

Briefing by News4U · First published 2026-11-02 11:01:59 UTC

HSBC Group CEO Georges Elhedery said the bank’s Hong Kong dollar stablecoin RedCoin, launched on October 23, has attracted 50,000 users in about ten days and aims for multi-million users; the HKMA announced it has expanded its EnsembleTX pilot to enable 24/7 real-value settlement of tokenized transactions and will include regulated stablecoins in upcoming tokenized government debt trials. [1] [2]

Sources

1. HSBC’s RedCoin stablecoin draws 50,000 users in first week as bank deepens local tech push

   SCMP Business · 2026-11-02 07:59:30 UTC · Summary only

2. Hong Kong takes tokenized settlement to 24/7, plans stablecoin trials

   Cointelegraph · 2026-11-02 10:14:55 UTC · Full text

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