JD CoinChain Technology joins the Hong Kong Web3 Standardization Association as the vice chairman unit

The Hong Kong Web3.0 Standardization Association issued an announcement, announcing that JD CoinChain Technology (Hong Kong) Co., Ltd. officially became the vice chairman unit of the association. As a blockchain subsidiary of JD Technology Group, JD CoinChain's joining this time marks that it will play a more core role in promoting Web3 technical standards and digital financial infrastructure construction.

The association is committed to promoting the construction of Web3 standards

The Hong Kong Web3.0 Standardization Association was established on January 4, 2024. It is the first organization in Hong Kong that focuses on standardization work in the field of Web3.0. Its purpose is to promote the development of Web3.0-related technologies and applications under a compliant and secure framework, including but not limited to cutting-edge fields such as blockchain, digital identity, metaverse, NFT, decentralized finance (DeFi) and stablecoins.

As a multi-party platform, the association has absorbed members from industry, academia and government agencies to establish unified, transparent and open technical standards and industry norms, thereby enhancing Hong Kong's voice and competitiveness in the global Web3 ecosystem.

JD CoinChain Technology: Building Hong Kong Dollar Stablecoin and Global Payment Infrastructure

JD CoinChain Technology (Hong Kong) Co., Ltd. is the core carrier of JD Technology Group in the field of Web3.0, focusing on blockchain payment and stablecoin technology. The company currently develops and operates a stablecoin product that is pegged to the Hong Kong dollar (HKD) at a 1:1 ratio and issued based on the public chain, and is committed to providing enterprises and individuals with efficient, low-cost, safe and transparent payment solutions.

This stablecoin not only has real-time settlement and cross-border payment capabilities, but also fully complies with the compliance requirements of the Hong Kong Monetary Authority and relevant regulatory agencies to ensure that asset reserves and token issuance are transparent and verifiable.

In addition, JD CoinChain Technology actively participates in building a global digital financial infrastructure. Its long-term goal is to promote the digitization of the Hong Kong dollar and serve the global Chinese-speaking market, and build a reliable cross-border financial network.

Strengthening standardization cooperation to help Hong Kong build a Web3 hub

This time, JD CoinChain Technology was invited to serve as the vice chairman unit, which means that it will play a more critical role in the association's internal standard setting, policy dialogue and ecological linkage. Industry analysts pointed out that with the increasing importance of stablecoins, digital assets and Web3 infrastructure, the participation of JD CoinChain is expected to accelerate the implementation of industry standards and promote the formation of a sustainable and compliant Web3 ecosystem in Hong Kong.

The representative of the vice chairman of the association will participate in the discussion of major topics, including the standardization of cutting-edge technology fields such as stablecoin issuance specifications, Web3 identity authentication framework, and smart contract standard interface.

Looking to the future

Against the backdrop of increasingly fierce global Web3 competition, Hong Kong is striving to become the leading crypto-finance and Web3 innovation center in the Asia-Pacific region. The Hong Kong SAR government has repeatedly expressed its support for the development of Web3.0, launched a number of pilot programs and promoted the establishment of a "virtual asset service provider" (VASP) licensing mechanism to strengthen supervision and encourage innovation in parallel.

JD CoinChain Technology's technical strength and scene implementation experience will inject industrial power into Hong Kong's Web3 standard system and provide strong support for building a global trusted digital economic ecosystem.