#BinanceHODLerHYPER JD.com progresses in stablecoin testing in Hong Kong

AI Summary

According to PANews, JD.com's Vice President and Chief Economist Shen Jiangguan revealed in an interview that the company has entered the phase of stablecoin testing in a sandbox in Hong Kong. The initiative aims to enhance the efficiency of global supply chains and transaction capabilities through the issuance of stablecoins.

Shen noted that after approval in Hong Kong, the stablecoin could be implemented in many countries and regions. However, it is necessary to comply with various national regulations. For instance, the EU's MiCA regulations require the establishment of a local company and obtaining a license, whereas Japan allows the issuance of stablecoins from Hong Kong.

JD.com aims to promote its global compliance strategy and develop stablecoin infrastructure to support these efforts.