Chinese e-commerce giant JD com to launch stablecoin

The company has been testing the asset in Hong Kong’s regulatory sandbox since 2024

Chinese online shopping platform JD com will launch its own stablecoin

18.06.2025 - 12:20

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3 min

What’s new? JD com, one of China’s largest online shopping platforms, plans to apply for licenses to operate with stablecoins in all major countries with the aim of cutting settlement times to 10 seconds and cross-border payment costs by as much as 90%.

Material by Bloomberg

What else is known? This was announced by the CEO of JD Coinlink’s subsidiary Liu Peng. According to him, since July 2024, the company has been testing compliant stablecoins pegged to the Hong Kong dollar and other currencies in a regulatory sandbox under the control of the Hong Kong Monetary Authority (HKMA), which performs the functions of the central bank in a special administrative region of the PRC.

The top manager said that the company intends to add support for settlement in stablecoins on the Hong Kong and Macau platforms in the fourth quarter of this year. The initiative is initially focused on the B2B sector, but consumer payments will be added in the future.

The company expects to obtain a stablecoin issuer license and issue the JD Stablecoin asset on one of the public blockchains, which will allow everyone to view the volume of issuance and other data.

Hong Kong’s securities regulator will allow crypto derivatives trading

This type of product will be available to professional investors.

The bill on the regulation of stablecoins was passed in Hong Kong at the end of May. It appoints the HKMA responsible for issuing licenses, regulates the management of reserve assets and repayment mechanisms, and obliges issuers to keep customer funds separate from their own.

And in April, the Hong Kong Securities and Futures Commission allowed licensed crypto platforms and exchange-traded funds (ETFs) to offer staking services.

This decision was a breakthrough, as in the United States, issuers of crypto ETFs are still not allowed to place customer assets in staking. This policy is criticized by investment companies and leads tounrealized losses for investors.

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