HSBC puts its Hong Kong dollar stablecoin in 3 million PayMe wallets

HSBC has launched its Hong Kong dollar stablecoin inside PayMe, its local wallet app, reaching 3 million users as of Friday. The move tests whether a bank-issued token can function as everyday money for retail payments. Traders should watch this as a signal that regulated, bank-backed stablecoins are moving from pilot programs into mass consumer distribution in a major financial hub.