According to Foresight News, Jingdong Technology Group's subsidiary, Jingdong Coinlink Technology (Hong Kong), announced plans to issue a stablecoin pegged 1:1 to the Hong Kong Dollar (HKD). The stablecoin will be based on a public blockchain and backed by highly liquid and credible assets. These assets will be securely stored in independent accounts at licensed financial institutions. The integrity of the reserves will be rigorously verified through regular disclosures and audit reports.
Previously, Foresight News reported that the Hong Kong Monetary Authority (HKMA) revealed the list of stablecoin issuer 'sandbox' participants on July 18, which includes Jingdong Coinlink Technology (Hong Kong).