According to CoinMeta, HSBC has launched a stablecoin. Over 3.3 million users can make payments to 100,000 merchants with this stablecoin. Wu Yangyuru, the CEO of HSBC Hong Kong, stated that funds, assets, and information are transitioning from traditional infrastructure to digital networks. Li Guankang, the head of HSBC's retail banking products, mentioned that the transaction speed of this stablecoin is consistent with that of existing digital wallets and it also offers payment discounts. In addition, john, the Managing Director of HSBC's Digital Assets and Currency, indicated that a stablecoin wallet feature will be added to HSBC Hong Kong's mobile financial management app within this year, allowing users to use this stablecoin to subscribe to tokenized investment products, including HSBC's Hong Kong dollar money market funds, with a minimum subscription amount of HKD 100. HSBC has completed pilot tests and will subsequently expand this service to corporate and institutional clients.