JD Coinlink has planned to launch stablecoins in Hong Kong in the IV quarter of 2025.

2025-06-18 04:00:13

The Chinese e-commerce subsidiary JD.com — JD Coinlink — is preparing to launch stablecoins pegged to the Hong Kong dollar and other currencies. This was stated by CEO Liu Peng in an interview with Bloomberg Businessweek.

The launch could take place as early as the IV quarter of 2025 after testing in the sandbox of the Hong Kong Monetary Authority.

Peng emphasized that stablecoins are not cryptocurrencies like Bitcoin or Ethereum, but rather “payment instruments,” similar to mobile wallets.

As one of the key creators of WeChat Pay, he believes that stablecoins can play a “disruptive” role in international settlements, becoming the financial infrastructure of the Web3 era.

JD Coinlink, registered in Hong Kong in March 2024, has already completed the second stage of testing. Participants are experiencing the use of stablecoins in cross-border payments, investment transactions, and retail.

Peng noted that the first platform will be JD Global Sale in Hong Kong and Macau, where purchases can be paid for with stablecoins.

The introduction of stablecoins is regulated by a new law officially published on May 30. It will come into effect on August 1, 2025, and provides for the licensing of stablecoin issuers.

JD Coinlink expects to obtain a license in the first half of Q4 and immediately launch the stablecoin on the public blockchain.

Peng stressed that in a world where USDT and USDC dominate the market with a share of more than 80%, JD Coinlink relies on compliance and a focus on the real sector of the economy. The goal is not crypto speculation, but convenient and transparent cross-border payments for businesses in Asia, the Middle East, Africa, South America, and Europe.

He acknowledges that a stablecoin is not just a product, but a systemic financial infrastructure.

The company plans to collaborate with licensed partners to develop services in the field of supply chain financing, particularly using blockchain in logistics and order management.

Let us remind you that in April of this year, Hong Kong’s Financial Secretary Paul Chan announced plans to amend the regulation of stablecoins.

ETH-0.4%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

Reward
like
1
Repost
Share

Comment

0/400

CallSuccessful95519

· 06-19 04:50

Global regulators are accelerating the legislative process for stablecoins, such as Europe's MiCA, Hong Kong's "Stablecoin Ordinance," and the United States' "GENIUS Act." The core focus is to establish a clear regulatory framework for the reserve assets and issuance mechanisms of stablecoins. In the future, stablecoins will develop under a stricter regulatory environment, and compliance will become key. They are also gradually being accepted by the public.

View OriginalReply0