HSBC RedCoin stablecoin draws 50,000 users in just over a week

HSBC's Hong Kong-issued stablecoin RedCoin drew 50,000 users in just over a week, with HK$87.75 million now in circulation. The bank plans to add more features to the product. A major global bank scaling a stablecoin quickly signals growing institutional adoption of tokenized money, a positive for the broader crypto sector even though no listed token is directly involved.