HSBC's RedCoin hits 50,000 users as RD Technologies targets cross-border trade. HSBC's Hong Kong dollar stablecoin is finding users inside PayMe. RD Technologies is working with Anchorage Digital Bank and HashKey on a U.S. dollar token for businesses paying suppliers overseas. When HSBC launched RedCoin on October 23, more than 3.3 million PayMe customers stood to gain access to the bank's Hong Kong dollar stablecoin. Ten days later, HSBC has an early measure of how many took it up. Speaking at Hong Kong FinTech Week on Monday, Group CEO Georges Elhedery said RedCoin had reached 50,000 users. Hong Kong fintech RD Technologies is pursuing a different customer. It has chosen Anchorage Digital Bank to issue RDUSD, a U.S. dollar stablecoin intended for business payments. On Monday, HashKey announced plans to test the token on its network. One use RD is exploring is helping an importer in Ghana pay a supplier in Asia through its local bank. What 50,000 RedCoin users tells HSBC. HSBC put RedCoin inside an app Hong Kong residents already use to split a bill or pay a shop. Customers can activate a wallet within PayMe, and each RedCoin is redeemable for one Hong Kong dollar. At launch, PayMe's network included more than 100,000 merchants, giving customers places to spend it from the start. Blockster's coverage of the RedCoin launch. For merchants, the next figure worth watching is how often those customers come back and pay with RedCoin. HSBC also plans to bring it into its mobile banking app and let customers use it to buy tokenized investments, including a Hong Kong dollar money market fund. That would give someone who receives RedCoin from a friend a choice between spending it at a shop and putting it into a fund. Hong Kong's monetary authority is exploring where else stablecoins could be useful. Dealers have already completed trial trades in tokenized Exchange Fund Bills, a form of short-term debt the authority issues. At FinTech Week, it announced plans to test whether dealers could use regulated stablecoins to settle those trades. How a Ghanaian importer could pay an Asian supplier. Suppose a Ghanaian business orders equipment from Asia and wants to know when its supplier will get paid. Under a pilot proposed by Stanbic Bank Ghana and RD Technologies, the importer would give payment instructions to Stanbic. The bank would verify the customer, approve the transaction and handle the local currency. RD would coordinate the overseas payment through its Asian network. The pilot still requires regulatory clearance. RD Technologies' description of the proposed pilot. Why would an importer choose RDUSD over USDC or USDT? The comparison comes down to the full payment: how many cedis leave the importer's account, how much reaches the supplier's bank account, and when the supplier can use the money. RD and its partners haven't published a side-by-side comparison of fees, exchange rates or delivery times for that route. Those are the figures a business would need to judge the offer. What RD has disclosed is who will stand behind its token. Anchorage Digital Bank will issue RDUSD, hold one U.S. dollar in reserve for each token and handle redemptions. RD will work with the businesses and payment providers that want to use it. HashKey plans to test RDUSD on HSK Chain, its Ethereum-based network. One proposed use would link payment to an electronic shipping document. An importer and exporter could agree to release funds when the document changes hands, including outside banking hours. It's a specific reason a trading business might want to settle an invoice on a blockchain. HashKey's announcement. "RD focuses on its customers and markets, and we take care of issuance, reserves and custody." - Nathan McCauley, CEO and co-founder of Anchorage Digital. In the DBS survey Blockster covered Friday, 67% of respondents said their companies had put tokenized money to use, while another 21% were still testing it. Hong Kong's two projects give readers concrete milestones to follow. For HSBC, it's whether those first 50,000 users make RedCoin a regular way to pay. For RD and its partners, it's a supplier receiving spendable funds against a real invoice. Blockster's coverage of the DBS survey. Reporting by Sasha Steenkamp Stablecoins HSBC

Canton roundup: Edel names Anchorage, lower trading fees and new developer tools. Edel announces a custody partnership, DamlBox offers hosted DevNet nodes, and governance advances validator applications. Earlier updates include Doppler's Foundation membership, lower Canborsa fees and new wallet tools. Product announcements and governance developments through October 28, 2026 at 17:13 UTC. Earlier updates are labelled in the article. Graphic: CantonNews; Canton logo belongs to its owner. Edel has named Anchorage as a custody partner, Launchnodes has announced hosted development nodes, and Canton's latest governance notices advance validator applications. Earlier updates also bring lower trading fees, limit orders and new wallet-connection tools. This edition follows the previous roundup, published on October 28 at 12:37 UTC, and runs through October 28, 2026 at 17:13 UTC. Uncovered updates from earlier that day are labelled separately below. Edel names Anchorage as a custody partner. Edel announced its partnership with Anchorage on October 28, describing institutional custody, private markets and onchain credit as the focus. Custody concerns the safekeeping and control of assets. The announcement follows Edel's selection of Flowdesk as a market-making partner. The two functions are different: a market maker offers buying and selling prices, while a custodian safeguards assets. Edel has not specified the assets covered, the operating arrangement or when customers can use the Anchorage service. The partnership should also be kept separate from Edel Markets' trading launch. Its current network documentation describes TestNet as open and MainNet as not yet open for trading. DamlBox offers hosted Canton development nodes. Launchnodes says DamlBox is live as a self-service way to obtain a hosted Canton DevNet participant node. DevNet is a development environment, so this launch gives builders somewhere to test applications rather than a route directly into production. The announced features include uploading and managing DAR files - the packages containing Daml application code - automatically creating party identities, and accessing the ledger through an authenticated software interface. Launchnodes describes redeployment to TestNet and then MainNet as later steps. Its claim that users can start building in minutes has not been independently timed. Validator decisions move forward. A six-entry approval notice covers BlockSight Labs, Circle, DBS Bank, KR Technologies, Nasdaq and RBC Capital Markets. These are approvals within the onboarding process, not evidence that six new validators are running. Circle had already received an earlier approval, and RBC's request concerns an additional node. A separate batch of 16 applications includes IBM Consulting, Wells Fargo, Wavebridge, NOAH, Cancore and Ingenium Labs. The separate notice sets a November 4 deadline for comments. Inclusion in that batch alone does not establish approval; some applicants also appear in other approval notices. For Super Validators, votes on a16z's weight changes have passed. The notice says the corresponding configuration pull request can now be merged. The configuration change was still unmerged when checked, so a passed vote is distinct from an applied network change. Developer funding: a vote and milestone submissions. QuickStart: voting has opened on the 12.95 million CC funding request from Moonsong Labs and Digital Asset. The proposed work updates Canton's application starter kit, including token-standard support and external wallet signing. The 21-day vote is an assessment step; the grant has not been approved. Transaction checks before signing: FTP Tech submitted its first transaction-hashing milestone. The package lets a wallet independently calculate the transaction digest it is asked to sign. Its upstream code contribution remained open, with core-maintainer endorsement still pending in the delivery report. This is submitted work, not a released wallet SDK update. DamlForge: Noders reported its first proof-of-concept milestone for translating Python-style contract code into Daml. The report lists 12 unresolved fuzz-testing issues and requests 600,000 CC upon committee acceptance. It establishes a prototype submission, not production readiness or a completed payment. Traffic purchasing: Finoa revised its traffic-purchasing proposal to tie the MainNet-release payment to three purchases through its app, and each maintenance payment to three purchases in that month. These are proposed payment conditions, not completed purchases or an approved grant. Earlier updates: membership and trading controls. The following announcements appeared between the previous scan cutoff at 02:26 UTC and the previous roundup's publication at 12:37 UTC on October 28. They were not included in that edition. Doppler joins the Canton Foundation. Doppler Finance announced that it has joined the Canton Foundation. It plans to participate in work on tokenomics, Featured App accountability and collateral, contributing to discussions about incentives, application standards and how assets are used in financial workflows. Doppler also plans to bring its vault infrastructure to Canton, starting with a Canton Coin vault. Membership is the completed step in this announcement; the CC vault remains a plan, with no opening date or product terms established by the announcement. Canborsa lowers perpetual trading fees. Canborsa has reduced both maker and taker fees from 0.07% to 0.055%. A maker adds an order to the market; a taker trades against an available order. Perpetual contracts give price exposure without a fixed expiry date. Illustrative example: a trade with a $10,000 notional value - the value of the position being traded - would incur a $5.50 trading fee at 0.055%, compared with $7 at 0.07%. Opening and closing at the same $10,000 notional would cost $11 instead of $14 in those fees. This excludes funding payments, price movement and any other costs. Illustrative calculation using the maker and taker rates in Canborsa's October 28 fee announcement. Each bar represents one $10,000 notional trade. Funding and other costs are excluded. Graphic: CantonNews. The update also adds a custom slippage setting, which lets users set the maximum price difference they will accept on a market order. It adds a price-control choice; it does not guarantee an order will execute. C8 Wallet adds limit orders. C8 Wallet has added limit orders to its official trading venue's interface. Users can specify a price at which they want to buy or sell CC, instead of accepting the available market price. Setting a limit does not guarantee a trade: a matching price and available liquidity are still needed. PartyLayer React 3.1 packages the connection screen. PartyLayer announced React 3.1, offering a wallet picker, search, account menu, themes and supported wallet runtimes in its connection interface. This is an interface toolkit for builders, extending the existing PartyLayer wallet-connectivity work; it does not mean every Canton wallet is supported. Hacken submits a Canton monitoring detector pack. Hacken's milestone report presents detector pack 0.2.0 for changes in hosting and authority, unusual stakeholders, stalled reassignments and visibility patterns. The detectors operate on data the monitoring participant is entitled to see. The submission does not establish access to all private Canton activity or committee acceptance of the milestone. On the calendar: Canton onboarding decisions. Hacken's online onboarding panel is scheduled for October 29 at 15:00 UTC, with Catalyx, C7 and Noves. The panel will discuss five onboarding decisions affecting project cost, compliance and long-term scalability. Registration is linked in Hacken's announcement. Primary sources: the Edel announcement, DamlBox release, and the official project and governance records linked beside each item. Reporting cutoff: October 28, 2026 at 17:13 UTC.