Chinese company JD.com has registered two new entities related to stablecoins ahead of the impending regulations in Hong Kong.
JD.com and New Stablecoins
JD.com, often referred to as China's Amazon, has registered two new stablecoin-linked entities, Jcoin and Joycoin, through its fintech subsidiary JD Coinlink Technology.
Stablecoin Regulation in Hong Kong
The regulation of stablecoins in Hong Kong is set to take effect in the coming days. JD Coinlink is one of the official participants in the stablecoin issuer sandbox program launched by the Hong Kong Monetary Authority.
JD Coinlink's Plans
JD Coinlink plans to launch a stablecoin pegged 1:1 to the Hong Kong dollar, aiming to become one of the leading digital currencies for businesses and individuals.
The registration of new stablecoin entities by JD.com highlights the growing interest in this segment of financial technology in Hong Kong as the date for the new regulations approaches.
