As stablecoins play an increasingly important role in the global digital finance sector, their enormous market potential and application prospects have attracted the attention of many tech giants and financial institutions. JD.com, as a major e-commerce giant in China, has drawn significant attention for its layout in the stablecoin field. However, a large amount of false information regarding "JD stablecoin" has recently emerged in the market, with some criminals even impersonating JD.com to commit fraud. On June 30, JD Coin Chain Technology issued a stern statement, clearly stating that the JD stablecoin has not been officially issued and reminding the public to be wary of all false information regarding "purchasing stablecoins."
On June 30, JD Group's official Weibo account "JD Spokesperson" and JD Coin Chain Technology simultaneously released a "Stern Statement on False Information Regarding JD Stablecoin Products and Business Cooperation." The statement clearly pointed out that the recent circulating information about JD Coin Chain Technology cooperating with certain enterprises and the ability to "obtain JD stablecoins" is untrue and has seriously misled the industry and public opinion.
JD Coin Chain Technology emphasized:
Currently, JD Coin Chain Technology has not started issuing stablecoins.
JD Coin Chain Technology has not established any related communities.
All current information regarding "obtaining JD stablecoins" is suspected of fraud.
JD especially reminds investors and the public to be sure to discern and be wary of fraudulent activities disguised as "stock recommendations" or stablecoins to avoid financial losses. All accurate information regarding products and business cooperation should be based on the information released by JD Coin Chain on its official website.
Liu Peng, CEO of JD Coin Chain Technology, has recently emphasized the real progress and future vision of JD stablecoin in an interview with Bloomberg Businessweek and on other public occasions.
Sandbox Testing Phase: JD Coin Chain Technology was selected as one of the first participants in the Hong Kong Monetary Authority's "Stablecoin Issuer Sandbox" in July 2024 and is currently in the second phase of testing. This means that the JD stablecoin is still in a regulated testing environment and has not been issued to the public.
Fiat Currency Peg: The JD stablecoin is planned to be issued based on a public chain, with the first phase tentatively pegged to the Hong Kong Dollar (HKD) and the US Dollar (USD), achieving a 1:1 link with fiat currencies. Specific situations will be adjusted based on regulatory and market demand.
Application Scenarios: The testing scenarios mainly include cross-border payments, investment transactions, and retail payments. Liu Peng stated that stablecoins, as a payment tool, have the potential for low cost and high efficiency, aiming to solve the pain points of cross-border payments through blockchain technology, and may serve JD's e-commerce ecosystem and global enterprises in the future, enhancing their competitiveness in the Web3 field.
Global Compliance Development: JD founder Liu Qiangdong has stated that he hopes to apply for stablecoin licenses in major currency countries worldwide, using stablecoins to facilitate foreign exchange between global enterprises, reducing cross-border payment costs by 90% and increasing efficiency to within 10 seconds. Liu Peng also emphasized that they are actively engaging in close communication and cooperation with the Hong Kong Monetary Authority and regulators in other regions to promote the global compliance development of JD stablecoin business.
This information indicates that JD's layout in the stablecoin field is long-term and prudent, strictly adhering to regulatory requirements, and committed to exploring its application value in the real world.
JD's clarification not only protects its brand reputation but also highlights the compliance and trust challenges faced by the rapidly developing stablecoin industry.
Frequent Fraud: Similar fraudulent activities impersonating well-known enterprises are not uncommon in the stablecoin industry. Criminals often exploit investors' lack of understanding of emerging financial products and their desire for high returns, using "low thresholds and high returns" as bait to lure investors into falling victim. In 2024, the Hong Kong Monetary Authority repeatedly warned the public to be cautious of unauthorized cryptocurrency investment projects.
Importance of Regulation: Due to their low volatility and payment functions, stablecoins can easily be exploited by criminals for fraudulent schemes. This makes regulation and compliance particularly important. As an international financial center, Hong Kong actively promotes the construction of a stablecoin regulatory framework. On May 21, 2025, the Hong Kong Legislative Council passed the "Stablecoin Ordinance," which will officially take effect on May 30, establishing a licensing system for stablecoin issuers and emphasizing reserve asset management, investor protection, and comprehensive risk management. The President of the Hong Kong Monetary Authority, Yu Weiwen, stated that this ordinance has created a robust and flexible regulatory environment for Hong Kong, supporting the sustainable development of the stablecoin ecosystem.
Through timely clarification, JD has maintained market transparency while demonstrating its cautious attitude and emphasis on compliance in the stablecoin field. This has positive implications for the healthy development of the entire stablecoin industry.
JD Coin Chain Technology's stern statement serves as a wake-up call for the currently hot stablecoin market. In the frontier of digital finance, where innovation and opportunity coexist, investors must remain highly vigilant, verify information through official channels, and avoid trusting unverified news and so-called "internal channels." The future of JD stablecoin is worth looking forward to, but its development will strictly follow regulatory paths and be guided by actual application value. For the public, prudently assessing the risks and opportunities of emerging financial products and reasonably allocating assets is key to coping with market uncertainties.
Related: JD's Global Stablecoin License Layout Aiming at the Trillion-Dollar Cross-Border Payment Market
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