JD.com's subsidiary, JD Coinlink Technology (Hong Kong) (JINGDONG Coinlink), will issue a stablecoin based on a public blockchain in Hong Kong and pegged to the Hong Kong dollar (HKD) at a 1:1 ratio.

Each JD.com stablecoin can be redeemed at a 1:1 ratio, and its reserves are composed of highly liquid and credible assets, which are safely stored in independent accounts of licensed financial institutions. The integrity of the reserves is strictly verified through regular disclosure and audit reports.

This is not the first time that JD.com has been involved in blockchain business.

In May 2016, JD Finance joined the "Financial Blockchain Cooperation Alliance". Although JD.com entered the blockchain field later than other Internet companies, its development momentum is not much less, and it has placed its focus on the alliance chain.

In May 2017, JD Finance cooperated with UnionPay to build the alliance chain "Zhizhen Chain". In the same month, Wanda and China Merchants Bank joined JD.com's alliance chain. In 2018, JD Finance improved the underlying blockchain technology of the ABS cloud platform and established a multi-party independently deployed alliance chain, which was first deployed by each party in an independent environment and then networked. At the same time, a business bottom layer supporting various assets was established.

At that time, JD.com, as the retailer with the highest turnover in China, established the "JD Quality Traceability and Anti-Counterfeiting Alliance" with the Ministry of Agriculture, the National Quality Inspection Headquarters, the Ministry of Industry and Information Technology, etc. in June 2017 to cooperate in building a blockchain traceability platform; in December of the same year, JD.com established China's first safe food blockchain traceability alliance; in August 2018, JD.com's blockchain anti-counterfeiting and traceability platform BaaS was officially released, and the first edition of the "JD Blockchain Technology Practice White Paper" was released in the same year.

In addition to the alliance chain, JD.com also made an NFT platform "Lingxi", which was officially launched at the end of 2021 and provided technical support by "Zhizhen Chain". Initially launched on the JD.com APP applet, the first batch of NFTs on sale were designed with JD.com's mascot "Joy" as the prototype.

On July 18, the Hong Kong Monetary Authority announced the list of participants in the "Sandbox" for stablecoin issuers, including JD CoinChain Technology (Hong Kong). Currently, JD CoinChain Technology has obtained Type 1 (Securities Trading), Type 4 (Providing Advice on Securities) and Type 9 (Asset Management) licenses from the Hong Kong Securities and Futures Commission (SFC).

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