JD Stablecoin: A New Tool for JD's Entry into Cross-Border Payments
JD Stablecoin (also known as JD-HKD or JD Hong Kong Dollar Stablecoin) is a project launched by e-commerce giant JD Group through its Hong Kong subsidiary, JD Coin Chain Technology. It is primarily pegged to the Hong Kong Dollar (HKD) at a 1:1 ratio and operates on a public blockchain.
In July 2024, JD joined the Hong Kong Monetary Authority's stablecoin sandbox testing, becoming one of the first participants. By the end of 2025, this project is still progressing, planning to first obtain a license in Hong Kong and then expand to major currency countries worldwide.
In simple terms, JD Stablecoin is a digital version of the Hong Kong Dollar, with each coin backed by an equivalent reserve of Hong Kong Dollars stored in licensed banks, subject to regular audits to ensure it can be redeemed at a 1:1 ratio at any time. The core goal is to address the pain points of cross-border payments: traditional remittances take 2-4 days and have high fees (sometimes over 7%), while stablecoins can achieve instantaneous transactions with a 90% cost reduction. JD's founder, Liu Qiangdong, stated that it will first be used for business-to-business (B2B) settlements, such as supply chain payments, and may later expand to consumer shopping.
The project is based on JD's own Zhizhen Chain but will be issued on a public chain, emphasizing compliance, with 100% cash reserves, independent custody, and transparent reporting. It has not yet officially launched on a large scale, primarily testing cross-border payments and retail scenarios in the sandbox. JD also intends to apply for licenses for versions in US Dollars, offshore Renminbi, and others, promoting cheaper and faster global payments.
The advantages include backing from JD's large ecosystem, strong real demand, and a regulatory-friendly environment; the disadvantages are that encryption is banned on the mainland, the initial launch is in Hong Kong, making it inaccessible to ordinary people in the short term, and competition is fierce (with USDT and USDC dominating). If you are engaged in cross-border business, this could save you a lot of money in the future, but it is still early; let's wait for the license to be issued. You can visit the JD Coin Chain official website or follow the Hong Kong Monetary Authority for the latest updates.
JD Stablecoin (also known as JD-HKD or JD Hong Kong Dollar Stablecoin) is a project launched by e-commerce giant JD Group through its Hong Kong subsidiary, JD Coin Chain Technology. It is primarily pegged to the Hong Kong Dollar (HKD) at a 1:1 ratio and operates on a public blockchain.
In July 2024, JD joined the Hong Kong Monetary Authority's stablecoin sandbox testing, becoming one of the first participants. By the end of 2025, this project is still progressing, planning to first obtain a license in Hong Kong and then expand to major currency countries worldwide.
In simple terms, JD Stablecoin is a digital version of the Hong Kong Dollar, with each coin backed by an equivalent reserve of Hong Kong Dollars stored in licensed banks, subject to regular audits to ensure it can be redeemed at a 1:1 ratio at any time. The core goal is to address the pain points of cross-border payments: traditional remittances take 2-4 days and have high fees (sometimes over 7%), while stablecoins can achieve instantaneous transactions with a 90% cost reduction. JD's founder, Liu Qiangdong, stated that it will first be used for business-to-business (B2B) settlements, such as supply chain payments, and may later expand to consumer shopping.
The project is based on JD's own Zhizhen Chain but will be issued on a public chain, emphasizing compliance, with 100% cash reserves, independent custody, and transparent reporting. It has not yet officially launched on a large scale, primarily testing cross-border payments and retail scenarios in the sandbox. JD also intends to apply for licenses for versions in US Dollars, offshore Renminbi, and others, promoting cheaper and faster global payments.
The advantages include backing from JD's large ecosystem, strong real demand, and a regulatory-friendly environment; the disadvantages are that encryption is banned on the mainland, the initial launch is in Hong Kong, making it inaccessible to ordinary people in the short term, and competition is fierce (with USDT and USDC dominating). If you are engaged in cross-border business, this could save you a lot of money in the future, but it is still early; let's wait for the license to be issued. You can visit the JD Coin Chain official website or follow the Hong Kong Monetary Authority for the latest updates.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
BTC
87,873.24
+0.77%