China’s JD.com registers ‘Jcoin’ ahead of Hong Kong stablecoin regime
China’s JD.com announced plans for a Hong Kong dollar stablecoin last summer and is now expected to be among the first issuers under HKMA’s stablecoin regime.
China-based e-commerce giant JD.com has reportedly registered entities tied to a potential stablecoin rollout just days ahead of Hong Kong’s stablecoin regulations going into effect.
JD.com, often referred to as China’s Amazon, has registered two potential stablecoin-linked entities, Jcoin and Joycoin, through its fintech subsidiary, JD Coinlink Technology, according to a report by Hong Kong news outlet Ming Pao on Tuesday.
JD Coinlink is one of the official participants in the stablecoin issuer sandbox program by the Hong Kong Monetary Authority (HKMA), which launched last year.