Both firms already plan to issue Hong Kong dollar-backed stablecoins once local legislation begins August 1.
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JD.com, Ant Group Push for Yuan-Based Stablecoins to Counter Dollar Rule: Reuters
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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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