JD.com to Launch HKD-Backed Stablecoin by 2025, Expanding Crypto Payments

Hong Kong''s JD.com is advancing its crypto ambitions with plans to issue a Hong Kong dollar-pegged stablecoin by late 2025. The e-commerce giant has entered the government''s regulatory sandbox, positioning itself among the first movers in Asia''s institutional stablecoin race.

"We''ve completed initial HKD stablecoin tests and will evaluate multi-currency options," revealed JD CoinChain CEO Liu Peng. The firm anticipates dual stablecoin issuance pending final approval under Hong Kong''s new Stablecoin Ordinance, with blockchain transparency guaranteeing real-time auditability of minted tokens.

The initiative promises to slash payment processing times from days to seconds while halving transaction costs. This strategic pivot mirrors Alibaba''s earlier crypto experiments, signaling China''s tech titans are cautiously embracing blockchain despite mainland restrictions.