Sources: Ant Group and JD.com have suspended plans to issue stablecoins in Hong Kong, according to insiders

ChainCatcher news, according to Lianhe Zaobao, foreign media revealed that sources familiar with the matter said that Ant Group, a subsidiary of Alibaba, and e-commerce giant JD.com, among other technology companies, have suspended their plans to issue stablecoins in Hong Kong.

It is reported that Ant Group stated in June this year that it would participate in Hong Kong's stablecoin pilot project, and JD.com also said it would join the pilot program. In May this year, Hong Kong reviewed and passed the "Hong Kong Stablecoin Bill".

This regulation officially came into effect on August 1. As of the end of September, a total of 36 institutions had submitted applications for stablecoin licenses.