JD Coin Chain Technology (Hong Kong), a subsidiary of JD.com, has not withdrawn from the competition for Hong Kong’s inaugural stablecoin license, contrary to some reports. The company is one of the three key participants in the stablecoin testing sandbox. Stablecoins are a type of digital currency typically pegged to a stable asset or currency to minimize price volatility. Following a February 2026 meeting of the Financial Affairs Committee, Hong Kong Monetary Authority CEO Yu Vivien announced that a total of 36 entities have applied for the stablecoin license. These applicants include banks, technology firms, brokerages, asset management companies, investment firms, e-commerce platforms, payment institutions, and Web3 startups. Special attention is being given to the application from Standard Chartered Bank (Hong Kong), one of the three note-issuing banks in the region. The issuance of stablecoin licenses by Hong Kong represents a significant step toward regulating digital currency use in the financial sector, aiming to enhance financial transparency and security. This move stands to benefit both local and international investors, as Hong Kong’s financial policies are globally respected. In the future, licensed entities may expand digital financial services in Hong Kong, while non-approval could lead to increased market competition and stricter policies.
Source: binance
