China’s leading e-commerce giant JD.com, through its subsidiary, is set to launch a regulatory-compliant stablecoin pegged to the Hong Kong dollar by the end of this year.
In a recent interview, Liu Peng, CEO of JD Coinlink, a subsidiary of JD.com, revealed they are testing stablecoins pegged to the Hong Kong dollar and other currencies under the sandbox program initiated by the Hong Kong Monetary Authority (HKMA). Peng noted that the testing process has been progressing well, with the stablecoins planned for official release as early as the fourth quarter of this year.
The company’s cross-border e-commerce platform, JD Global Sale, will also begin accepting payments in stablecoins on its Hong Kong and Macau websites. This move marks a significant step toward wider commercial adoption of digital assets, highlighting stablecoins' growing potential across Asia.
JD.com’s blockchain-based stablecoin initiative indicates a rapid expansion of digital currencies' role in payment systems, particularly in Asia. Additionally, Hong Kong’s regulatory flexibility positions the region as a global hub for digital asset adoption.
