cryptobanking.news daily brief, 24 October 2026
AI-generated audio summary of verified stories. Synthetic voices. Not investment advice.

ANCHOR: This is the cryptobanking.news daily brief for Saturday, 24 October.
ANCHOR: HSBC’s first stablecoin, HSBC RedCoin, is now available on PayMe by HSBC in Hong Kong. In the coming days, over 3.3 million PayMe users will be able to activate an in-app wallet for peer-to-peer payments and payments at more than 100,000 merchants.
CO-HOST: The Monetary Authority of Singapore says Bank Negara Malaysia and the Bank of Thailand have joined its BLOOM initiative on cross-border settlement in digital money, including tokenised deposits and regulated stablecoins. Visa, Mastercard and the World Bank Group are among the new participants.
ANCHOR: In the US, SoFi launched SoFi Earn, a consumer tokenized deposit held at SoFi Bank that converts one-to-one into SoFiUSD, its stablecoin.
CO-HOST: And the OCC has issued a final rule implementing the GENIUS Act for payment stablecoin issuers, covering reserve backing, redemption and risk management. It takes effect on 18 January 2027.
ANCHOR: That’s the brief. For sources, visit cryptobanking.news.

Sources:
- HSBC RedCoin launches today (HSBC Hong Kong, 2026-10-23): https://cryptobanking.news/item/hsbc-redcoin-launch-payme/ | primary source: https://www.about.hsbc.com.hk/news-and-media/hsbc-redcoin-launches-today
- Bank Negara Malaysia and Bank of Thailand join MAS-led BLOOM initiative on cross-border settlement in digital money (Monetary Authority of Singapore, 2026-10-23): https://cryptobanking.news/item/mas-bnm-bot-bloom-cross-border-digital-money/ | primary source: https://www.mas.gov.sg/news/media-releases/2026/mas-bnm-and-bot-partner-with-industry-to-advance-cross-border-settlement-in-digital-money
- SoFi Launches SoFi Earn (SOFIE), the First and Only National Bank-Issued Tokenized Deposit for Consumers (SoFi Technologies (via Business Wire on Nasdaq.com), 2026-10-22): https://cryptobanking.news/item/sofi-earn-sofie-tokenized-deposit/ | primary source: https://www.nasdaq.com/press-release/sofi-launches-sofi-earn-sofie-first-and-only-national-bank-issued-tokenized-deposit
- OCC Advances U.S. Digital Asset Leadership with Final Rule to Implement GENIUS Act (Office of the Comptroller of the Currency, 2026-10-21): https://cryptobanking.news/item/occ-final-rule-genius-act/ | primary source: https://www.occ.gov/news-issuances/news-releases/2026/nr-occ-2026-92.html

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