Foresight News reported that according to Daily Economic News, recently, Dr. Shen Jinguang, Vice President and Chief Economist of JD Group, received an exclusive interview in Hong Kong. He pointed out that stablecoins belong to decentralized commercial issuance at the company level, with minimal fluctuations affected by macroeconomic conditions. JD is issuing stablecoins to further enhance its global supply chain and cross-border payment capabilities. Currently, JD has entered the "sandbox" testing phase for stablecoin issuance in Hong Kong, and the stablecoin-related bill is still being developed without clear provisions. It is expected that after the "Stablecoin Regulation Draft" is approved in Hong Kong, the Hong Kong Monetary Authority can officially issue specific implementation details. Stablecoin issuance will definitely be licensed through the Hong Kong Monetary Authority and require regulatory approval, not everyone can issue them.
Additionally, all fixed assets in banks will be custodied through stablecoins, and regulators must ensure cooperation between stablecoin-issuing enterprises. However, stablecoins like USDT with poor compliance and transparency are still trusted by many due to their large scale, and because they have no labor or handling fees, they might ultimately coexist, which will be determined by the market. For instance, the Hong Kong Monetary Authority plans to issue stablecoin licenses, develop digital Hong Kong dollars, and establish cross-border payment interconnectivity. We are currently at the beginning of Web 3.0, and many things are evolving.
