HSBC RedCoin's circulating face value is approximately HK$87.75 million.

on November 2, according to HSBC's official website disclosure, as of November 2, the circulating value of the Hong Kong dollar stablecoin RedCoin was approximately HKD 87.75 million, and the market value of reserve assets was approximately HKD 88.75 million, all in cash.

HSBC disclosed that the circulating value of RedCoin increased by approximately HKD 6.75 million over the past seven days. Users can currently use RedCoin via PayMe for personal transfers and merchant payments, and HSBC plans to later support the use of RedCoin to subscribe to tokenized investment products through its Hong Kong mobile banking app.