HSBC's licensed Hong Kong dollar stablecoin, RedCoin, is due by year-end inside PayMe, an app with more than 3.3 million users. No coin has been issued yet, so that figure is the reach of Hong Kong's biggest lender, and demand for the token is still untested.
Perspective Coverage
3 publishers
- Builder
- Builder 20%
- Operator
- Operator 43%
- Investor
- Investor 37%
Reality
- Evidence58
- Adoption4
- Hype gap+20
- Incentives65
- Confidence62
The Securities and Futures Commission is drafting a digital-asset licensing regime alongside the upgrade, and the Hong Kong dollar stablecoin already in circulation totalled 522,000 tokens on August 19.
Reality
- Evidence48
- Adoption22
- Hype gap+32
- Incentives58
- Confidence45
Becoming HKDAP's first bank distributor gives institutions on-chain settlement without an exchange account. It also leaves one group holding the issuer stake, the reserves and the channel.
Reality
- Evidence34
- Adoption21
- Hype gap+27
- Incentives79
- Confidence41
Binance's bStocks passed xStocks in under two months to become the second-largest issuer. The category grew roughly 34x in a year, and the leaderboard now rewards whoever already owns the order flow.
Reality
- Evidence42
- Adoption55
- Hype gap+22
- Incentives68
- Confidence48
Analyst Yajin Zhou's team says the KYC and revocation controls in Anchorpoint's live HKDAP contract do not work as coded. The contract is verified on Etherscan, so anyone can check.
Reality
- Evidence42
- Adoption28
- Hype gap+18
- Incentives58
- Confidence40