JD.com Secures ‘Jcoin’ Trademark as Hong Kong Launches Stablecoin Rules

JD.com has secured the 'Jcoin' trademark, positioning itself as an early mover in Hong Kong's newly regulated stablecoin market. The e-commerce giant's timing aligns with the August 1, 2025 implementation of Hong Kong's stringent stablecoin legislation, signaling ambitions to dominate cross-border digital payments.

Founder Richard Liu unveiled plans to pursue global stablecoin licenses, targeting 90% cost reductions and sub-10-second transaction speeds. "Our vision is that one day, people around the world will be able to use JD's local coins for global payments," Liu declared during a June press conference in Beijing.

The proposed Hong Kong dollar-pegged stablecoin will operate on a public blockchain, with JD.com already participating in the city's regulatory sandbox since March 2024. Hong Kong's framework, among the world's strictest, mandates HKMA licensing for all fiat-backed stablecoin issuers.