JD Group registers Jcoin and Joycoin trademarks, seizing the opportunity in Hong Kong's stablecoin market.

A few days before the new digital currency regulations took effect in Hong Kong, China's largest online retailer JD.com registered two cryptocurrency names. According to Hong Kong media reports, the company applied for trademarks for "Jcoin" and "Joycoin" through its financial subsidiary JD Coinlink Technology. This move comes as Hong Kong's new stablecoin law is set to take effect on August 1, 2025. The timing indicates that JD.com aims to be one of the first companies to launch regulated digital currencies in the region, seizing the opportunity in the stablecoin market.

JD's Cross-Border Payment Grand Plan: Stablecoins Reduce Costs, Accelerate Transfers

JD.com founder Liu Qiangdong announced plans to obtain stablecoin licenses in major countries around the world. He believes this technology can reduce payment costs by 90% and shorten transfer times to under 10 seconds.

Liu Qiangdong stated at the Beijing press conference in June: "Our goal is to apply for stablecoin licenses in all major sovereign currency countries around the world. Our vision is that one day, people around the world will be able to use JD's local currency for global payments."

JD.com plans to launch a stablecoin that will be pegged to the Hong Kong dollar at a 1:1 ratio and will operate on a public blockchain. The company stated that it hopes to become the leading digital currency for enterprises and the general public. This e-commerce giant has already participated in Hong Kong's stablecoin testing program, which is set to start in March 2024. The sandbox allows businesses to experiment with digital currency concepts under regulatory supervision.

Hong Kong's Strict New Regulations: One of the Strictest Stablecoin Regulatory Frameworks in the World

Hong Kong's stablecoin law has created one of the world's strictest regulatory frameworks for digital currency. Companies issuing stablecoins pegged to fiat currency must obtain a license from the Hong Kong Monetary Authority (HKMA).

The rule requires several key points:

1. The company must retain at least 25 million HKD in startup capital.

2. Stablecoins must be fully backed by physical assets.

3. Issuers need robust systems to prevent money laundering.

4. Only licensed companies can offer stablecoins to Hong Kong residents.

Violating these regulations may result in a fine of up to 5 million HKD and 7 years of imprisonment. The Hong Kong Monetary Authority has warned the public to be vigilant against fraudulent activities claiming to offer licensed services. Currently, no company has obtained a stablecoin license. The HKMA stated that it will conduct strict screenings and may initially only approve a small number of applications.

Intensifying Competition in Asia and China's Strategic Considerations

JD.com faces competition from other major participants in the stablecoin market in Hong Kong. The projects participating in the testing include Standard Chartered Bank, gaming company Animoca Brands, and Hong Kong Telecom, which are collaborating on their respective projects. Another participant, RD InnoTech, is developing a Hong Kong dollar stablecoin called "HKDR," intended for digital asset transactions and cross-border commercial payments. This competition reflects the growing interest in stablecoins across Asia. Traditional banks and technology companies view digital currency as a means to modernize payments and reduce costs.

JD.com launched a stablecoin to align with China's broader goal of challenging the dominance of the US dollar in the global payments arena. Chinese economists are concerned that failing to develop a yuan-backed stablecoin could undermine China's financial influence. JD.com's chief economist, Shen Jianguang, stated: "If China does not develop a stablecoin, it will essentially withdraw from the competition for next-generation global currency dominance."

In May 2025, the share of the renminbi in global payments fell to 2.89%, while the US dollar accounted for 48%. Reports indicate that Chinese companies such as JD.com and Ant Group have requested approval from the People's Bank of China to issue renminbi-backed stablecoins in Hong Kong. However, mainland China still prohibits most cryptocurrency activities. Any renminbi stablecoin may need to operate in Hong Kong or other offshore regions.

Impact on the Future

JD's trademark registration indicates that major companies are paying close attention to the new stablecoin regulations introduced in Hong Kong. As the regulated digital currency market develops, JD's proactive measures may give it an advantage. The key to success lies in meeting Hong Kong's stringent requirements and proving that stablecoins can address real business issues beyond transactions. Given that global payment volumes have reached trillions of dollars, even minor improvements in speed and cost can create significant value.

The launch of the Hong Kong stablecoin system on August 1 marks a key moment for digital finance in Asia, with JD.com set to become a major player in this emerging market.

JD Group's active layout in the Hong Kong stablecoin market not only demonstrates its ambition in the digital payment field but also indicates that Hong Kong will become an important hub for the global stablecoin development. With the implementation of the Stablecoin Regulation, Hong Kong is expected to attract more companies to participate, jointly promoting the application of stablecoins in cross-border payments and digital finance.