HSBC Plans Hong Kong AI Institute With Blockchain on Initial Agenda

HSBC plans to establish a global artificial intelligence research institute in Hong Kong, with blockchain among its initial priorities alongside AI use cases and post-quantum cryptography.

廖宜建, HSBC’s Asia and Middle East co-CEO, announced the plan Nov. 1. The institute is expected to begin operating in early 2027. HSBC has 150 AI specialists in Hong Kong and expects the team to double over the next two to three years, 廖宜建 said.

HSBC is rolling out HSBC RedCoin, its Hong Kong dollar stablecoin, in phases. The first phase supports transfers between users and payments to merchants. HSBC plans to offer RedCoin wallet access through PayMe and to add it to its Hong Kong mobile banking app by year-end. Users will be able to activate a wallet without a minimum balance or another account.