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RedotPay is weighing a confidential filing for a US IPO by the end of 2026, while discussing a pre-IPO round that could value the Hong Kong stablecoin payments company at $4 billion to $5 billion, according to reporting cited by Cointelegraph.
Ripple has won final approval from the U.S. OCC for a national trust bank, allowing it to manage RLUSD reserves, act as collateral trustee and provide digital-asset custody. RLUSD issuance will remain with Standard Custody & Trust Company.
Canada’s proposed stablecoin rules would require one-to-one reserves, three-business-day redemptions and fees of no more than 1%, while banning interest and indirect yield payments. The draft is open for 60 days, with implementation targeted for fall 2027 and Bank of Canada supervision.
The US Office of the Comptroller of the Currency is urging community banks to consider becoming payment stablecoin issuers or using subsidiaries to do so. The call follows finalized rules for the GENIUS Act, which is scheduled to take effect in January.
Canada has proposed rules that would let eligible stablecoin holders redeem any amount directly with an issuer, with redemptions generally due within three business days and fees capped at 1%. The framework remains under consultation and is intended for implementation in fall 2027.
Standard Chartered-backed Anchorpoint is taking a cautious approach to launching its Hong Kong dollar-backed stablecoin for retail users. The venture’s chief executive declined to confirm its earlier end-2026 target after HSBC introduced RedCoin through its PayMe app.
HSBC has launched RedCoin, a Hong Kong dollar stablecoin available to more than 3.3 million PayMe users. Customers can use it with friends and at over 100,000 merchants, while HSBC plans to bring the token to its mobile banking app later this year.
The OCC has removed a proposed automatic seven-day extension for stressed stablecoin redemptions. Its final rule keeps a two-business-day ordinary ceiling, defines compliance by payment initiation and leaves any extra time to regulator approval.
Coinbase will convert remaining GYEN balances into USDC from Oct. 26 to Oct. 30 as GMO Trust winds down the Japanese yen stablecoin. Holders can withdraw before the cutoff and may pursue direct redemption until Nov. 11, following a collapse that triggered lawsuits and a $6.75 million settlement.
South Korea’s central bank plans to draft a foreign-exchange law amendment by year-end to regulate stablecoins used for payments and monitor cross-border transfers. The initiative comes as lawmakers debate a broader digital-asset bill and whether a postponed crypto tax should begin in 2027.
HSBC has introduced RedCoin, a Hong Kong dollar stablecoin, through its PayMe app. More than 3.3 million users will be able to activate wallets for payments and transfers, while HSBC plans to add banking, tokenized investment and institutional uses later.
Sweden’s Riksbank wants lawmakers to revisit a digital krona, warning that foreign stablecoins and a future digital euro could weaken demand for Sweden’s currency. The central bank says legislation should begin now because an e-krona could take at least five years to launch.
HSBC is rolling out RedCoin, a Hong Kong-dollar stablecoin, to more than 3.3 million PayMe users for transfers and merchant payments. The bank also plans tokenized investment subscriptions and future corporate and institutional applications.
Malaysia and Thailand have joined Singapore’s BLOOM initiative, which seeks to reduce costs and speed up cross-border payments by helping financial institutions use stablecoins and tokenized deposits across markets.
A Circle shareholder has sued Donald Trump, World Liberty Financial and Steve Witkoff, alleging USD1 transactions involving foreign interests harmed Circle and USDC. The White House called the case frivolous, while the dispute adds legal and political scrutiny to Trump’s crypto activities.
A former Circle employee and shareholder has sued Donald Trump over alleged unconstitutional profits from UAE-linked investments in World Liberty Financial, a crypto project co-founded by Trump and his sons. The complaint alleges $2 billion flowed through the venture’s USD1 stablecoin product.
The OCC has removed a proposed presumption targeting some affiliate-funded stablecoin rewards, but retained the GENIUS Act’s ban on issuer-paid yield. Programs will be assessed case by case, with no grandfathering for older arrangements or safe harbor for small payments.
Stablecoins and tokenized deposits are moving from blockchain trials into corporate payment operations, an EY-Parthenon survey found. Cross-border payments lead adoption, while integration with existing banks and payment platforms, distribution and programmable services are emerging as the key factors for wider institutional use.
