JD Coinlink, a subsidiary of the Chinese e-commerce giant JD.com, plans to launch stablecoins in Hong Kong in the fourth quarter of 2025.
This is reported by Finway
JD Coinlink Stablecoins: Launch and Features
JD Coinlink is actively preparing for the release of stablecoins that will be pegged to the Hong Kong dollar and other currencies. The company’s CEO, Liu Peng, stated that the second phase of testing has already been completed, and the launch is planned immediately after passing the tests in the sandbox of the Hong Kong Monetary Authority.
According to Peng, these stablecoins are not cryptocurrencies like Bitcoin or Ethereum, but are intended for payments and will operate similarly to mobile wallets. Peng, who was involved in the creation of WeChat Pay, is convinced that stablecoins can fundamentally change international payments, becoming the financial infrastructure of the new generation of Web3.
“Stablecoins can play a ‘disruptive’ role in international payments, becoming the financial infrastructure of the Web3 era,” noted Liu Peng.
Licensing, Partnerships, and Future Plans
JD Coinlink, which was registered in Hong Kong in March 2024, has already completed the second phase of testing. Participants in the trials are exploring the use of stablecoins in cross-border payments, investment operations, and retail. The first platform for implementation will be JD Global Sale in Hong Kong and Macau, where purchases can be made using the new stablecoin.
The introduction of stablecoins will be regulated by a new law, officially announced on May 30. This law will come into effect on August 1, 2025, and provides for the licensing of stablecoin issuers. JD Coinlink expects to obtain the relevant license in the first half of the fourth quarter of 2025 and immediately launch the stablecoin on a public blockchain.
Liu Peng emphasized that the company is committed to complying with regulatory requirements and focusing on the real sector of the economy. Unlike USDT and USDC, which currently hold over 80% of the market, JD Coinlink aims to provide transparent and convenient cross-border payments for businesses in Asia, the Middle East, Africa, South America, and Europe, rather than targeting crypto speculation.
JD Coinlink also plans to collaborate with licensed partners to develop supply chain financing, implementing blockchain in logistics and order management.
In April, Hong Kong’s Financial Secretary Paul Chan announced intentions to enhance regulations regarding stablecoins, further highlighting the relevance of these initiatives in the region.