Hong Kong e-commerce giant JD.com is developing its own stablecoin, pegged to the Hong Kong dollar, with plans to launch by the end of next year.
JD.com has joined Hong Kong’s government-backed stablecoin issuer sandbox, allowing it to test digital currency operations under regulatory oversight.
While focused on an HKD stablecoin, JD.com is preparing to expand testing to other fiat-pegged coins based on market demand.
The stablecoin will operate on a public blockchain, offering transparent issuance data and transaction times reduced from days to seconds.
Pending new stablecoin regulations, JD.com aims to obtain its license and officially launch the JD Stablecoin in the fourth quarter of 2025.