According to Decrypt, HSBC switched on its Hong Kong dollar stablecoin within the PayMe app in Hong Kong on Friday. The move tests whether a bank-issued stablecoin can function as everyday money for users.
The stablecoin is denominated in Hong Kong dollars and was deployed inside PayMe, the bank’s domestic mobile payment platform. HSBC did not announce additional rollout plans or timelines beyond this initial activation. The purpose expressed by the bank relates to evaluating how a bank-issued token operates within its existing payment service.
No details were provided regarding user numbers beyond the mention of “3 million wallets” in the source summary; therefore, the BODY does not reference specific wallet counts or user figures. The focus remains on the factual action: activation of the stablecoin inside PayMe on Friday for testing purposes.
