Hong Kong-based JD.com plans to introduce its own stablecoin backed by the Hong Kong dollar, expected to launch by the end of 2025.
Planned Stablecoin Launch
JD.com announced that its stablecoin will be launched after completing the testing phase within the government’s sandbox initiative for stablecoin issuers, with an expected release in the fourth quarter of 2025.
Testing and Licensing
Liu Peng, CEO of JD CoinChain Technology, stated that the testing of the Hong Kong dollar stablecoin is progressing smoothly. The launch date will depend on the finalization of new regulations, set to take effect on August 1, 2025.
Potential and Advantages
According to Peng, JD.com expects the stablecoin to accelerate transactions from days to seconds, reducing costs compared to traditional transfer methods. This may attract participants in international trade to utilize the stablecoin.
JD.com is moving towards a stablecoin launch by the end of 2025, which could significantly alter the cryptocurrency market and facilitate international transactions.
