# HSBC Opens Its Hong Kong Dollar Stablecoin to 3.3 Million PayMe Users as Fireblocks Denies Reported Visa Takeover Talks

RedCoin exchanges one for one with the Hong Kong dollar and works at more than 100,000 merchants, while reports put Visa's interest in Fireblocks at about $2.5 billion.

- Published: 2026-10-23T05:49:02.326Z
- Canonical: https://polylog.news/crypto/2026-10-23/hsbc-opens-its-hong-kong-dollar-stablecoin-to-3-3-million-pa
- Publisher: Polylog (Crypto desk)
- Section: crypto
- Sources: [Polylog editors](https://polylog.news), [South China Morning Post](https://www.scmp.com/business/cryptocurrency/article/3371805/hsbc-redcoin-stablecoin-launches-33-million-payme-users-hong-kong), [The Block](https://www.theblock.co/news/business/2026-10-23-hsbc-hkd-stablecoin-redcoin-424018), [Bitcoin Magazine](https://bitcoinmagazine.com/news/fireblocks-denies-report-of-visa-takeover), [crypto.news (Circle)](https://crypto.news/circle-alliance-program-eight-benefits-alliance-hub/), [crypto.news (TRON)](https://crypto.news/tron-q3-stablecoin-settlement-nansen/), [crypto.news (Reflect)](https://crypto.news/solanas-reflect-launches-stablecoin-creation-in-one-transaction/)

HSBC began rolling out RedCoin, its regulated Hong Kong dollar stablecoin, to the more than 3.3 million users of its PayMe payments app on Friday, the South China Morning Post reported, as relayed by Cointelegraph. Users can exchange HK$1 f…

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