TechFlow news, on July 24, according to Cailian Press, JD.com announced plans to issue a cryptocurrency stablecoin pegged 1:1 to the Hong Kong dollar (HKD) in Hong Kong. According to information from Jingdong Bichain Technology (Hong Kong), a subsidiary of JD Technology Group, the stablecoin will be issued on a public blockchain, with reserves composed of highly liquid and credible assets. These assets will be securely held in segregated accounts at licensed financial institutions and the reserve integrity will be verified through regular disclosures and audit reports.
Previous report, on July 18, the Hong Kong Monetary Authority released the list of participants in the stablecoin issuer "sandbox," which includes Jingdong Bichain Technology (Hong Kong).
