HSBC Launches RedCoin Stablecoin for PayMe’s 3.3M Users
HSBC is rolling out its Hong Kong dollar stablecoin through PayMe for transfers and shopping, with tokenized investment access planned later this year.
Fiat Currency
Fiat currency is government-issued money that is not backed by a physical commodity like gold. Examples include the US dollar, euro, and yen. In the crypto world, fiat currencies are often used as reference points for pricing and trading digital assets. They also serve as on- and off-ramps between traditional financial systems and cryptocurrencies. Despite the rise of digital assets, fiat currencies remain dominant in everyday economic activity.
Latest Fiat Currency News
SoFi Launches SOFIE Tokenized Deposits With 4.40% APY
SoFi’s SOFIE offers a variable 4.40% APY on bank deposits eligible for FDIC insurance, with 1:1 conversion to SoFiUSD and…
Stripe and Plasma Team Up on Multi-Currency Stablecoin Cards
Stripe and Plasma will develop cards for spending across fiat and stablecoin balances, with infrastructure expansion to 100+ countries planned…
Visa Direct Launches USDC Funding for Global Payouts
Visa Direct’s stablecoin prefunding is live through Inyo Global, whose wider payout network spans 180-plus countries, with access subject to eligibility.
Gate and Visa Announce Crypto Card Rollout Across 40+ Markets
Gate’s Visa collaboration targets more than 40 countries and territories, linking crypto balances to everyday purchases through automatic fiat conversion.
Trump-Linked USD1 Targets Millions of Merchants Through Mesh
World Liberty Financial and Mesh plan to bring USD1 to millions of merchants, while a wider push into Web2 payments still lacks named partners.
HSBC Names Its Hong Kong Stablecoin RedCoin, Plans 2026 Launch
HSBC RedCoin is planned for Hong Kong dollar payments through PayMe and the bank’s app, with issuance still to begin.
Deutsche Bank to Launch Crypto Custody for Bitcoin, Ethereum, and Stablecoins
Designed for institutional and corporate clients across Europe, the service will initially support Bitcoin, Ethereum, and leading stablecoins as traditional finance accelerates its integration with digital…
G20 Backs Digital Assets as a Driver of Global Economic Growth
G20 finance ministers and central bank governors have formally recognized digital assets as a potential driver of broad-based economic growth, while calling for clearer regulation, stronger…
Charles Schwab Integrates Bitcoin and Ether Trading Across Its $13T Wealth Management Ecosystem
Charles Schwab has officially introduced direct Bitcoin and Ether spot trading to its retail brokerage platform, placing digital assets directly alongside traditional securities for its 39.8…