Xi Niu Cai Jing·2025-07-03 03:17Core Viewpoint - JD.com has issued a statement clarifying that it has not launched any stablecoin products or partnerships, countering recent misleading information circulating in the market [1][2]. Group 1: Company Developments - JD.com has been exploring the stablecoin sector, with founder Liu Qiangdong mentioning six innovative projects, including stablecoins, aimed at reducing cross-border payment costs by 90% and improving efficiency to within 10 seconds [4]. - The first phase of JD.com's stablecoin is expected to be pegged to the Hong Kong dollar and US dollar, currently in the second phase of sandbox testing, focusing on cross-border payments, investment transactions, and retail payments [4]. - JD Coin Chain Technology was selected as one of the first participants in the Hong Kong Monetary Authority's "stablecoin sandbox," alongside other firms like Round Coin Technology and Standard Chartered Bank [4]. Group 2: Industry Context - The Hong Kong Legislative Council has passed the "Stablecoin Ordinance," establishing a licensing system for fiat-backed stablecoin issuers, which enhances the regulatory framework for virtual asset activities in Hong Kong [4]. - As regulatory policies become clearer and technology matures, JD.com's stablecoin could play a significant role in global cross-border payments and financial services, offering users a more convenient and efficient payment experience [5].