JD.com aims to issue its own stablecoin backed by the Hong Kong dollar by the end of 2025, enhancing transaction efficiency and reducing costs.
JD.com has announced plans to issue a stablecoin backed by the Hong Kong dollar by the end of 2025, having registered for the government's stablecoin issuer sandbox. CEO Liu Peng stated that the testing phase is progressing smoothly, with expectations to launch the JD Stablecoin alongside other fiat stablecoins. The initiative aims to significantly reduce transaction times and costs, attracting international trade participants. The launch schedule depends on the new Stablecoin Ordinance regulations, with a license expected by Q4 2025.