Emergency notice, something really big is coming! It's not just another trend in the crypto space, but the first direct confrontation of Chinese tech giants over on-chain financial sovereignty!
First, let’s correct a misconception: Hong Kong's (stablecoin regulation) did not just come into effect on August 1, but rather started the pilot regulatory framework as early as the end of 2024; August was merely the full rollout.
Ant Group and JD.com are not 'responding to a call', but have long been laying the groundwork; they are merely pulling back the curtain now!
My view is very clear: what they are doing is not stablecoin business, but attempting to establish an 'on-chain RMB order'. Ant Group aims to create a global RMB clearing channel, pushing Alipay+ onto the blockchain to achieve true 'de-dollarization'.
JD.com, on the other hand, is targeting the supply chain payment term dilemma, forming an efficient settlement closed loop within its self-operated business circle using stablecoins. One is focused on 'RMB going global', while the other is focused on 'internal circulation finance'.
What's more critical is that both avoid central bank digital currencies and do not touch USDT/USDC, aiming to take a path of technological neutrality and self-control. This is a grassroots experiment that does not rely on the central bank or the US dollar, and it is also a political act to seize on-chain financial discourse power in advance.
If this gamble succeeds, stablecoins will no longer be exclusive tools of the crypto industry but may become the grassroots foundation of a Chinese-style financial network. This is not an industrial upgrade, but a restructuring of the financial landscape.
I am an on-chain analyst, tracking Chinese tech and financial sovereignty, and the trends of Web3 for a long time.
Follow me to see the real gambling game behind every 'policy'.
