Official Name: The Hongkong and Shanghai Banking Corporation Limited
Country: Hong Kong
The Hongkong and Shanghai Banking Corporation Limited is the Hong Kong-based Asia-Pacific subsidiary of HSBC Holdings plc and the founding entity of the entire HSBC group. It was incorporated in Hong Kong under the Hongkong and Shanghai Bank Ordinance in 1866, and in 1991 became a wholly owned subsidiary when HSBC Holdings plc was established in London as the new group parent.
On 10 April 2026, the HKMA granted the entity one of Hong Kong's inaugural stablecoin issuer licences (licence number FRS02), selected from a pool of 36 applicants. On 30 September 2026 HSBC named the product HSBC RedCoin and plans to launch the HKD-denominated stablecoin in the second half of 2026, initially targeting peer-to-peer (P2P) and peer-to-merchant payments via PayMe and the HSBC HK Mobile App, with further use in tokenised investment subscriptions. HSBC is also one of seven EnsembleTX tokenised deposit banks (HKMA, 13 Nov 2025).
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