JD.com enters the stablecoin market? What will happen in the future?
1. The essence of JD-HKD: the blockchain upgraded version of Hong Kong dollar Alipay
JD-HKD, which JD launched this time, is simply "Hong Kong dollars on the chain", 1:1 anchored to Hong Kong dollars, with Standard Chartered Bank custodial reserves behind it, and Deloitte audits the chain data every month to ensure transparency and compliance. Unlike USDT, which is a wild way, JD-HKD is backed by the Hong Kong Monetary Authority and has obtained a sandbox license, directly benchmarking (Stablecoin Ordinance)
To put it bluntly, this is the ceiling of compliant stablecoins. USDT's "black box operation" is nothing compared to it.