JD stablecoin enters the second phase of the "sandbox" testing in Hong Kong, providing mobile and PC application products for both retail and institutional users.

On May 23, JD Chain Technology was selected as the first batch of “Stablecoin Sandbox” participants announced by the Hong Kong Monetary Authority in July 2024, and the Hong Kong Legislative Council recently passed the “Stablecoin Bill” in the third reading. JD stablecoin is a stablecoin based on the public chain and pegged 1:1 to fiat currencies such as the Hong Kong dollar (HKD) or the US dollar (USD). The first phase is tentatively issued with stablecoins pegged to the Hong Kong dollar and the US dollar, subject to change based on regulatory and market demand. The positioning of JD stablecoin is not limited to serving JD’s own ecology, but is committed to providing more efficient, economical and secure payment infrastructure for enterprises and individuals around the world. At present, JD Stablecoin has not yet been officially issued, and has entered the second phase of sandbox testing, and we will provide mobile and desktop application products for retail and institutions. The test scenarios mainly include cross-border payments, investment transactions, retail payments, etc."