HSBC Redcoin Stablecoin Reaches 50,000 Users in First Week
HSBC's regulated Hong Kong dollar stablecoin Redcoin has attracted 50,000 users within a week of launch, with HK$87.75 million in circulation.
HSBC's regulated Hong Kong dollar stablecoin Redcoin has attracted 50,000 users within a week of launch, with HK$87.75 million in circulation. JUST (JST) is trading at R$6,95 ($0.1393). This is an original Kriptometre brief synthesising 3 outlets (Bitcoin.com, Live Bitcoin News, Crypto.news), plus live market data, as of Mon, 02 Nov 2026 18:07:02 UTC.
Redcoin's rapid adoption highlights growing institutional interest in stablecoins and Hong Kong's ambition to become a digital asset hub, potentially setting a precedent for other regulated financial institutions.
- HSBC's Redcoin stablecoin gained 50,000 users in its first week.
- HK$87.75 million of the stablecoin is currently in circulation.
- Merchant payments and wallet top-ups are live on HSBC's PayMe platform.
- The launch coincides with Hong Kong's push for digital asset innovation.
All three outlets - Bitcoin.com, Live Bitcoin News, and Crypto.news - confirm that HSBC's Redcoin stablecoin has reached 50,000 users within a week of its launch. They also agree that the stablecoin is already being used for merchant payments and wallet top-ups on HSBC's PayMe platform. However, Crypto.news is the only outlet that specifies the exact amount of HK$87.75 million in circulation, while Live Bitcoin News emphasizes the involvement of HSBC Group CEO Georges Elhedery in disclosing the user figure at Hong Kong FinTech Week.
- HSBC RedCoin Stablecoin Rolls Out for PayMe Users in Hong Kong
- HSBC RedCoin Stablecoin'u Hong Kong'daki 3.3 Milyon PayMe Kullanıcısına Sunuyor
- HSBC Redcoin Stablecoin Reaches 50,000 Users in First Week — this brief
HSBC's newly launched Hong Kong dollar stablecoin, Redcoin, has achieved significant adoption in its first week, with 50,000 users signing up through the bank's channels. This milestone was announced by HSBC Group CEO Georges Elhedery during his remarks at Hong Kong FinTech Week, as reported by the South China Morning Post.
The stablecoin is already being utilized for merchant payments and wallet top-ups on HSBC's PayMe platform, indicating a practical application of the digital asset in everyday banking services. This development comes as part of HSBC's broader strategy to integrate digital assets into its traditional banking operations.
According to Crypto.news, the circulation of Redcoin has reached HK$87.75 million, demonstrating substantial initial uptake. This figure underscores the potential demand for regulated stablecoins in Hong Kong's financial ecosystem.
The launch of Redcoin aligns with Hong Kong's recent efforts to establish itself as a leading digital asset hub. The city's regulatory framework for stablecoins and other digital assets has been designed to encourage innovation while maintaining compliance with financial regulations.
In the current market context, with the total crypto market cap at $2.66 trillion and 
Bitcoin experiencing a slight 24-hour decline of 0.78%, Redcoin's performance stands out. The Fear & Greed index remains at 37, indicating a 'Fear' sentiment in the market. Meanwhile, the 
JUST (JST) token has seen a modest 1.31% increase in the past 24 hours.
Since this brief published about 3 hours ago, JUST (JST) has moved from R$6,96$0.1394 to R$6,95$0.1393 — -0.08%.
The chart plots JST's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Kriptometre's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Yatırım tavsiyesi değildir.
At today's peer-to-peer rate, 1 JST ≈ 7.2 ₺ (about $0.1393), up 0.9% over 24 hours. The real itself trades about 3.5% above the official rate on the P2P market, so a Turkish buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · 2 Kasım 2026.
Kriptometre reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
HSBC Redcoin Stablecoin Reaches 50,000 Users in First Week — questions & answers
What is the current circulation of HSBC's Redcoin?
HK$87.75 million of Redcoin is currently in circulation.
Which HSBC platform supports Redcoin transactions?
Redcoin is supported on HSBC's PayMe platform for merchant payments and wallet top-ups.
How does Redcoin's adoption compare to other stablecoins?
While specific comparisons are not provided, Redcoin's 50,000 users in one week suggest strong initial interest.
How much is 1 JUST worth in real today?
About 7.2 ₺ at the live peer-to-peer (P2P) USDT rate, which is what Turkishs typically trade at — equivalent to roughly $0.1393. The real price moves with both JST's US-dollar price and the USDT/BRL rate; use our JUST in real page for any amount.
Has JUST's price moved since this brief was published?
JST is down 0.08% since this brief first published — trading at R$6,95 ($0.1393) now versus R$6,96 ($0.1394) at publication. Kriptometre re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original Kriptometre brief that synthesises reporting from Bitcoin.com, Live Bitcoin News, Crypto.news, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Kriptometre brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.