Bank · United Kingdom / Hong Kong
HSBC
HSBC Holdings plc / The Hongkong and Shanghai Banking Corporation Ltd · hsbc.com (opens source in new tab)
Crypto readiness score
3/3 status dimensions verified · 3 initiatives · last verified 2026-10-23
Score breakdown
How the number above is built — every input is a verified tracker status with a dated source.
| Component | Weight | Points | Basis (verified input) |
|---|---|---|---|
| Commercial availability | 35 | 35 | Live — commercial, within explicit scope · initiative |
| Regulatory standing | 25 | 25 | Approved / authorised · initiative |
| Technical delivery | 20 | 20 | Live — commercial, within explicit scope · initiative |
| Product breadth | 15 | 10 | 2 product categories with a verified status: Stablecoin issuance, Tokenized deposits |
| Recent verified activity | 5 | 5 | Last verified change 2026-10-23 |
Score = sum of points, rounded. Only verified tracker statuses count; “Unknown” earns nothing and is never estimated. Methodology
Initiatives (3)
Regulatory, technical and commercial status are kept separate: an authorisation is not a launch.
Stablecoin issuance · Hong Kong
HSBC Hong Kong stablecoin (HSBC RedCoin)
- regulatory
- Approved / authorised2026-04-10
- technical
- Unknown
- commercial
- Live — commercial, within explicit scope2026-10-23
HSBC received one of the first two HKMA stablecoin issuer licences (Apr 2026), named its stablecoin HSBC RedCoin (Sep 2026) and made it available on PayMe by HSBC on 23 Oct 2026 for P2P and merchant payments.
Scope: Hong Kong only.
In tracker · last verified 2026-10-23
Tokenized deposits · Hong Kong, Singapore, Luxembourg, UK, US, UAE
HSBC Tokenised Deposit Service (TDS)
- regulatory
- Unknown
- technical
- Live — commercial, within explicit scope2026-08-20
- commercial
- Live — commercial, within explicit scope2026-08-20
HSBC states its Tokenised Deposit Service is live in six markets: Hong Kong, Singapore, Luxembourg, the UK, the US and the UAE.
Scope: Six markets named by HSBC.
In tracker · last verified 2026-10-22
Licences & registrations
Regulator records (or MiCA Art. 60 notifications — a notification, not an authorisation).
- Approved / authorised HSBC Hong Kong stablecoin (HSBC RedCoin)
Hong Kong Monetary Authority · 10 Apr 2026
PrimaryHKMA grants first stablecoin issuer licences (opens source in new tab)
Partners & providers
From tracker records and verified item text only. “Co-named” means both appear in the same source — open it for context. Full map
- Swift · joint initiative (tracker)
- Standard Chartered · joint initiative (tracker)
- Swift · co-named in verified item
HSBC and Standard Chartered execute first live tokenised deposit transaction on Swift's blockchain
HSBC and Standard Chartered today announced the successful completion of bank-to-bank tokenised deposit interoperability through the execution of the first live cross-border transaction on Swift’s blockchain-based ledger.
Regulator records & actions
Register entries and regulator publications that name this institution.
- 2026-04-10Primary record · Hong Kong Monetary AuthorityHKMA grants first stablecoin issuer licences (opens source in new tab)
- 2026-04-10Licence / authorisation · Hong Kong Monetary AuthorityHKMA grants first stablecoin issuer licences to Anchorpoint and HSBC
Markets (from stated target markets): Hong Kong · United States · European Union / EEA · United Kingdom · Singapore · United Arab Emirates
Timeline
Status changes (tracker history), verified items and regulatory dates, newest first.
2026-10-23 · Status
HSBC RedCoin (RCHKD) available from today on PayMe by HSBC; over 3.3 million PayMe users able to activate a wallet in the coming days.
2026-10-23 · Item
HSBC Hong Kong
2026-09-30 · Status
HSBC Hong Kong stablecoin (HSBC RedCoin): commercial Announced / exploring (opens source in new tab)
Product named, phased rollout announced.
2026-09-30 · Item
HSBC names its forthcoming Hong Kong stablecoin 'HSBC RedCoin'
HSBC
2026-08-20 · Status
First live bank-to-bank tokenised deposit transaction (HSBC–Standard Chartered). A single live transaction; not commercial availability.
2026-08-20 · Status
Status as stated in HSBC release (first date this tracker recorded it, not launch date).
2026-08-20 · Item
HSBC and Standard Chartered execute first live tokenised deposit transaction on Swift's blockchain
HSBC
2026-07-08 · Status
Ledger ready for initial use.
2026-07-08 · Item
Swift's blockchain ledger ready for initial use as 17 banks prepare tokenised cross-border payments
Swift
2026-04-10 · Status
HSBC Hong Kong stablecoin (HSBC RedCoin): regulatory Approved / authorised (opens source in new tab)
HKMA granted stablecoin issuer licence.
2026-04-10 · Item
HKMA grants first stablecoin issuer licences to Anchorpoint and HSBC
Hong Kong Monetary Authority
2025-08-01 · Regulatory date
Hong Kong regulatory regime for stablecoin issuers comes into effect (opens source in new tab)
HK Stablecoins Ordinance · Hong Kong Monetary Authority
Full coverage for HSBC · Data: /api/banks.json (CC BY 4.0) · Spot an error? Corrections