JD Coinchain Technology Remains in Hong Kong Stablecoin License Race

JD Coinchain Technology (Hong Kong), a subsidiary of JD.com, has not withdrawn from the competition for Hong Kong's first stablecoin license, contrary to previous reports. According to Foresight News, the company is one of the three main entities participating in the stablecoin testing sandbox. Additionally, on February 2, 2026, Hong Kong Monetary Authority Chief Executive Yu Weiwen stated after a Financial Affairs Committee meeting that a total of 36 institutions have submitted applications for stablecoin licenses. These applicants include banks, technology firms, brokerages, asset management companies, investment firms, e-commerce platforms, payment institutions, and startups/web3 companies. Among them, Standard Chartered Bank (Hong Kong) is highly anticipated due to its status as one of Hong Kong's three note-issuing banks.