- JD Coinlink enters Phase 2 of HKMA sandbox, pegged to HKD and USD
- Focused on cross-border, retail, and investment payment scenarios
- Q4 2025 target launch with settlement support on JD Hong Kong/Macau platform
Liu Peng, CEO of JD Coinlink (a JD.com subsidiary), confirmed that the company’s stablecoins—1:1 pegged to the Hong Kong dollar (HKD) and U.S. dollar (USD)—have entered Phase 2 of testing within the Hong Kong Monetary Authority’s Stablecoin Issuer Sandbox. This phase includes pilot testing of mobile and desktop applications for retail and institutional users.
Multi-Scenario Testing: Payments, Trading & Retail
JD Coinlink is exploring three major use cases during the sandbox trial:
- Cross-border payments – for faster, lower-cost international transactions.
- Investment settlements – for streamlined crypto and traditional asset trading.
- Retail payments – enabling stablecoin transactions on JD’s Hong Kong and Macau e-commerce platforms.
These stablecoins are built with strict compliance features: full convertibility, transparent on-chain operations, and reserve assets held in regulated financial institutions.
JD Expands Reach Beyond Its Ecosystem
Beyond its internal platforms, JD Coinlink aims to serve broader markets. The company is forming partnerships with compliant exchanges and payment acquirers to support widespread adoption. This strategy is expected to open stablecoin usage to businesses and consumers outside JD’s platform.
Launch Expected by Q4 2025
The stablecoins are expected to launch commercially by Q4 2025. JD’s Hong Kong and Macau e-commerce websites are already preparing to support stablecoin payments, marking a major step toward mainstream digital currency integration in the region.
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