Ant Group and JD.com have reportedly halted their plans to issue stablecoins in Hong Kong, according to sources cited by the Straits Times. Ant Group, a subsidiary of Alibaba, had announced its intention to join Hong Kong's stablecoin pilot program in June 2025, with JD.com also expressing interest. This decision comes after the 'Hong Kong Stablecoin Bill' was enacted in May 2025 and took effect on August 1, 2025. By the end of September 2025, 36 institutions had applied for stablecoin licenses in Hong Kong.
Ant Group and JD.com Suspend Hong Kong Stablecoin Initiatives
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