**Jingdong to Issue Stablecoin Pegged 1:1 to Hong Kong Dollar on Public Blockchain**

July 24, Financial Associated Press - Jingdong (JD.com) announced plans to issue a stablecoin pegged 1:1 to the Hong Kong Dollar (HKD) in Hong Kong. According to the official website of JD Coinlink Technology (Hong Kong), a subsidiary of Jingdong Technology Group, the JD stablecoin will be based on a public blockchain and backed 1:1 by HKD. The reserves will consist of highly liquid and credible assets, securely held in separate accounts at licensed financial institutions. These reserves will undergo regular disclosure and audit reports to strictly verify their integrity. Previously, on July 18, the Hong Kong Monetary Authority published a list of stablecoin issuer "sandbox" participants, which includes JD Coinlink Technology (Hong Kong).