JD.com, a major Chinese e-commerce company, has registered two entities related to a potential stablecoin launch—Jcoin and Joycoin—just before Hong Kong's stablecoin regulations are set to take effect. JD Coinlink Technology, a subsidiary of JD.com, is participating in the Hong Kong Monetary Authority's (HKMA) stablecoin sandbox, which was initiated in March 2024. JD Coinlink aims to issue a stablecoin pegged 1:1 to the Hong Kong dollar on a public blockchain. The HKMA is expected to announce licensed stablecoin issuers soon, as the current register lists no issuers. Industry insights suggest that the launch of the HK stablecoin regime could stimulate discussions in China and Hong Kong about stablecoin innovations and regulations. JD Coinlink has also cautioned users to be aware of potential scams related to its stablecoin, emphasizing that the official launch is still pending.

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