JD.com Announces HKD-Pegged Stablecoin Amid Global Tokenization Wave
JD.com Announces HKD-Pegged Stablecoin Amid Global Tokenization Wave
🤔 JD.com vs The Banks
Chinese e-commerce giant JD.com plans to launch a stablecoin in Q4 2025, joining a growing trend of major financial institutions entering the digital currency space.
Key developments:
- JD's stablecoin will be pegged to HKD and other currencies
- Initial B2B focus with planned expansion to retail in Hong Kong and Macau
- Public blockchain implementation for transparency
- HKMA-supervised testing since July 2024
This follows significant moves by traditional finance:
- Major US banks discussing consortium stablecoin
- HSBC launches tokenized deposits in Hong Kong
- BNP Paribas introduces tokenized money market fund
- Hong Kong passes comprehensive stablecoin regulation
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