Chinese e-commerce giant JD.com is making a big move in the stablecoin market, planning to launch its own fiat cryptocurrency. In preparation for Hong Kong's upcoming stablecoin regulation, JD.com has registered the trademarks "JCOIN" and "JOYCOIN."

JD.com is applying for multiple trademarks.

In a significant future development, JD.com has hinted at the possibility of launching its own stablecoin. The e-commerce giant has applied for trademarks for "JCOIN" and "JOYCOIN," which media outlets believe are the names of its upcoming stablecoins. Rumors circulated in early July that JD.com was developing a stablecoin pegged to the Hong Kong dollar. The JD Stablecoin, to be named, is expected to be pegged 1:1 to the Hong Kong dollar and issued on a public blockchain.

JD.com Chairman Richard Liu stated that JD.com intends to develop its own stablecoin in major global currency markets to reduce cross-border transaction costs by 90% and increase efficiency to under ten seconds. JD.com also hopes to make the JD Stablecoin a globally accepted payment method. According to registration documents, the trademarks JCOIN and JOYCOIN will cover blockchain-based fund transfers and cryptocurrency trading services.

Fully Supporting Stablecoin Development in Hong Kong

Currently, Hong Kong regulators are rolling out stablecoin governance, aiming to create a clearer framework for companies like JD.com to operate. Hong Kong's Policy Statement 2.0 indicates that the Stablecoin Ordinance will be released on August 1st. According to Hong Kong media reports, approximately 50 companies have applied for stablecoin licenses in Hong Kong. However, the Hong Kong Monetary Authority has stated that only a limited number of licenses will be granted.

The Hong Kong Monetary Authority believes that many proposals lack specific details and feasible implementation plans. Companies have failed to present feasible and concrete plans and implementation roadmaps, and have failed to disclose their understanding and management capabilities of risks. These developments are intended to reduce speculative trading risks and ensure that digital assets comply with established financial regulations. Under the new regulations, promoting or offering unauthorized stablecoins could result in fines of up to $6,300 and six months in prison.