JD.com: Will issue a stablecoin based on public blockchain and pegged to the Hong Kong dollar at a 1:1 ratio

According to ChainCatcher news, information from the official website of JD Coin Chain Technology (Hong Kong), a subsidiary of JD Technology Group, JD will issue a cryptocurrency stablecoin pegged 1:1 to the Hong Kong dollar.

The JD stablecoin will be issued on a public blockchain, with reserves composed of highly liquid and trustworthy assets, which are securely held in independent accounts at licensed financial institutions. The integrity of the reserves will be strictly verified through regular disclosures and audit reports.