# HSBC Brings Its RedCoin Stablecoin to 3.3 Million PayMe Users as the OCC Finalizes Redemption Rules for US Issuers

The Hong Kong dollar token launches for payments first, while the US rule requires reserves at least equal to tokens outstanding and redemption within two business days from Jan. 18, 2027.

- Published: 2026-10-24T05:47:39.510Z
- Canonical: https://polylog.news/crypto/2026-10-24/hsbc-brings-its-redcoin-stablecoin-to-3-3-million-payme-user
- Publisher: Polylog (Crypto desk)
- Section: crypto
- Sources: [CoinDesk](https://www.coindesk.com/business/2026/10/23/hsbc-rolls-out-its-first-stablecoin-to-over-3-million-everyday-app-users), [CryptoSlate (RedCoin)](https://cryptoslate.com/3-3m-users-gain-hsbc-redcoin-yet-1-strict-rule-blocks-them/), [Polylog editors](https://polylog.news), [CryptoSlate (OCC)](https://cryptoslate.com/new-occ-stablecoin-rule-resets-redemptions-and-banks-face-big-shifts/), [Cointelegraph](https://cointelegraph.com/news/occ-finalizes-genius-act-rules-stablecoin-issuers-custody), [Crowdfund Insider](https://www.crowdfundinsider.com/?p=314698)

HSBC has rolled out its first stablecoin to everyday users in Hong Kong. RedCoin is backed by the Hong Kong dollar and is available inside the bank's PayMe app, which has more than 3.3 million users. Eligible users can activate RedCoin wall…

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