JD.com, one of China’s largest ecommerce players, has pushed back firmly against misleading reports that it is collaborating with certain companies on a stablecoin project.
The company clarified that no such partnerships exist, stressing that claims suggesting otherwise are incorrect and could mislead both the industry and the public.
The confusion centres around JD Coin Chain Technology, JD.com’s blockchain subsidiary, which has been mentioned in inaccurate announcements by some firms.
These companies falsely claim to have joint projects with JD Coin Chain or access to a JD stablecoin — a product JD.com confirms it has not launched.
The ecommerce giant emphasised that “all information regarding obtaining JD stablecoins is suspected to be fraudulent,” urging vigilance to avoid scams, especially those involving misleading stock recommendations.
While JD Coin Chain Technology was selected as one of three institutions to participate in the Hong Kong Monetary Authority’s stablecoin sandbox—a regulatory programme exploring digital currency applications—JD.com has not proceeded with launching any stablecoin product.
The planned stablecoin, known as JD-HKD, remains on hold amid ongoing regulatory and technical challenges.
JD.com’s spokesperson highlighted the need for caution in a post on Weibo, stating the company has “not started issuing any stablecoins nor established any related communities.”
JD.com issued the warning on Weibo.
This clear stance aims to prevent the spread of false information that could cause financial harm or distort market expectations.
The stablecoin sector is under tight scrutiny worldwide, with regulators in China, Hong Kong and beyond drafting new laws to oversee these digital assets.
Recent developments, including the passage of the Stablecoin Ordinance in Hong Kong and the approval of the Genius Act in the US Senate, reflect growing government attention on ensuring stablecoin compliance and security.
Such regulatory uncertainties may be influencing JD.com’s decision to delay issuing its stablecoin.
The company faces the dual task of meeting strict regulatory demands and developing the necessary technology for a stable, secure digital currency.
Meanwhile, other companies like Xiaomi Bank and Langxin Group actively seek licences to issue stablecoins and tokenised real-world assets, highlighting a competitive yet cautious market environment.
JD.com’s warning extends beyond clarifying its own position.
It advises the public to be wary of scams, particularly those disguised as “stock recommendations” tied to fake stablecoin schemes.
JD.com states it will pursue legal action against parties spreading false information that damages its reputation or misleads investors.
This clear-cut message arrives at a time when misinformation in the crypto and blockchain space can cause significant financial losses and shake investor confidence.
JD.com’s move to publicly distance itself from unauthorised partnerships aims to restore trust and signal the serious approach it takes towards regulatory compliance and corporate responsibility.
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