- JD.com denies exit rumors, applies for HK stablecoin license.
- Founder Richard Liu affirms commitment to global stablecoin use.
- Regulatory delays impact market but bolster AML compliance.
JD.com has denied rumors of withdrawing from the stablecoin business, confirming its blockchain arm JD Chain is pursuing a stablecoin license in Hong Kong.
This move positions JD.com among major Asian fintechs aiming for regulatory approval in Hong Kong, indicating a significant step towards global stablecoin expansion.
JD.com has addressed rumors concerning its exit from the stablecoin business by affirming its commitment to acquire a stablecoin license in Hong Kong. This move aligns with the Hong Kong Monetary Authority’s revised regulatory framework.
Under the leadership of Richard Liu, JD.com aims to expand its fintech operations globally. JD Coinlink Technology, JD’s blockchain arm, participates in HKMA’s sandbox program to register “Jcoin” and “Joycoin” trademarks.
The decision to pursue a license reflects broader trends among leading Asian fintech firms competing for HKMA-issued licenses. Stricter compliance, particularly around AML regulations, impacts short-term market dynamics.
The license process signifies JD.com’s strategic focus on stablecoin adoption within global payments. This approach echoes similar structures seen under regulatory bodies such as the UK’s FCA and Singapore’s MAS.
JD.com’s actions emphasize regulatory compliance, promising increased credibility for stablecoin finance. The company’s strategy could reshape payment systems within greater China and APAC, fueling mainstream adoption.
While awaiting HKMA approval, JD.com leverages its extensive e-commerce network for potential stablecoin integration. The planned Hong Kong dollar-pegged Jcoin seeks alignment with international standards, awaiting regulatory readiness by 2026.
“We aim to apply for our stablecoin license in all major sovereign currency countries in the world. Our vision is that one day, people around the world will be able to use JD’s local coins for global payments”—Richard Liu, Founder, JD.com.
