[HSBC CEO: RedCoin Attracts 50,000 Users in One Week] HSBC CEO Georges Elhedery stated that the Hong Kong dollar stablecoin RedCoin attracted 50,000 users in its first week of operation and will expand to HSBC and Hang Seng Bank clients in the future. RedCoin has already launched with over 3.3 million users of the PayMe app, supporting merchant payments and wallet top-ups. HSBC plans to provide services through HSBC HK Mobile Banking and support subscriptions to tokenized money market funds. HSBC will also establish a global AI and emerging technologies research institute in the northern metropolitan area of Hong Kong, expected to be operational in early 2027. (Source: South China Morning Post)