Both JD.com and Ant already plan to issue stablecoins backed by the Hong Kong dollar, after the island's new legislation takes effect on August 1.
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China's tech giants lobby for offshore yuan stablecoin, sources say
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JD.com and Ant Group is preparing to apply for a Hong Kong stablecoin license immediately after the city’s comprehensive stablecoin regulations that establishes one of the world’s most rigorous frameworks for digital currency issuance.
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