Chinese people cheer! JD.com is going to issue a stablecoin!!!

JD.com Group will launch a cryptocurrency stablecoin pegged 1:1 to the Hong Kong dollar in Hong Kong. JD.com CoinChain Technology has been approved by the Hong Kong Monetary Authority to become one of the three issuers under sandbox supervision. The sandbox supervision is an experimental project of the Hong Kong Monetary Authority, which aims to test the scenario application of cryptocurrency stablecoins. The three issuers need to test the business model within the specified scope and communicate and coordinate with the HKMA on the proposed regulatory system.