JD.com announces progress on stablecoin: entering the second phase of sandbox testing, with testing scenarios including cross-border payments, investment transactions, retail payments, and more

Regarding the latest progress of JD.com stablecoin, JD.com responded that the JD.com stablecoin has not been officially issued yet and is currently in the second phase of sandbox testing. We will provide mobile and PC application products for retail and institutional clients. The testing scenarios mainly include cross-border payments, investment transactions, and retail payments. It is reported that the JD.com stablecoin is a stablecoin based on a public chain and pegged 1:1 to fiat currencies such as the Hong Kong dollar or US dollar. The first phase is tentatively planned to issue stablecoins pegged to the Hong Kong dollar and US dollar, with specific circumstances adjusted based on regulatory and market demand. The JD.com stablecoin is not limited to serving JD.com's own ecosystem but is committed to providing more efficient, economical, and secure payment infrastructure for enterprises and individuals worldwide