🚀 Jingdong Coinlink, a JD Technology Group subsidiary, is set to launch a 1:1 stablecoin pegged to the Hong Kong dollar (HKD). Despite being a Sandbox Participant by the HKMA, it's not officially licensed to issue stablecoins.

🔗 The stablecoin aims to offer efficient, cost-effective, and secure payment solutions, backed by highly liquid assets in licensed institutions.

📈 This move aligns with Hong Kong’s growing pro-crypto stance, following the launch of Asia’s first inverse Bitcoin ETF by CSOP Asset Management.

💼 Meanwhile, HKX joins a list of exchanges exiting the HK market, withdrawing its license application.