HSBC Holdings PLC announced on November 2, 2026, that it plans to establish an AI and emerging technology institute in Hong Kong. The bank expects the institute to open in the first quarter of 2027. The move follows a similar initiative in Singapore and aims to strengthen HSBC’s expertise in artificial intelligence and blockchain.
The institute will partner with the Hong Kong University of Science and Technology. Its focus areas will include AI skills development, fraud detection, and blockchain innovation.
HSBC said its Hong Kong dollar-backed stablecoin, RedCoin, has attracted 50,000 users since launching on October 23. The CEO disclosed the figure during Hong Kong FinTech Week and attributed the rapid uptake to the city’s supportive regulatory environment.
HSBC also plans to expand RedCoin’s use cases. Customers will be able to subscribe to tokenized investment products through the bank’s mobile banking app.