$ETH
✔️JD Technology, the largest retail company in China, launches a stablecoin in Hong Kong
The CEO of Jingdong Coinlink (a subsidiary of JD Technology) outlined plans to launch a regulated stablecoin:
- Joined the regulatory testing environment of the Hong Kong Monetary Authority in July 2024.
- Testing stablecoins linked to the Hong Kong dollar and multi-currency.
- Focus on cross-border payments, investments, and retail (starting with JD Global in Hong Kong/Macau).
- Listing on regulated exchanges.
- Scheduled to launch in the fourth quarter of 2025 on a public blockchain.
A solution for the offshore yuan is currently being developed, but it depends on the approval of Chinese regulatory authorities.
