HSBC in hongkong has been working hard on a stablecoin. They created their own and named it RED coin. The stablecoin intended to be used across the ecosystem. It goes by the ticker name of RCHKD. And it is going to gain it's adoption through apps. 

Take example of PayME platform where the RCHKD is the token that would be available for the spend. And also this would help between p2p and the localized payments too. 

HSBC is going to be the face of the Chinese crypto involvement in the world. HSBC would also enter the UK and the EU through the red coin. And the financial pushing through for the digital EU is going to be another update too. 

All in all, there are going to be grands changes and also the grand answers on the stablecoin that would be used across apps and the netbanking for the ecosystem surrounding the HSBC. 

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