JD CoinChain CEO Liu Peng: Stablecoin is a new generation of payment infrastructure, aiming to connect global trade

As the Hong Kong Stablecoin Ordinance is about to take effect in August 2024, the pace of stablecoin compliance continues to accelerate and has become the focus of global financial technology. Liu Peng, CEO of JD Technology's stablecoin issuer, JD Coinlink, recently accepted an exclusive interview with Bloomberg Businessweek to share his deep insights and strategic layout on the development trend of stablecoins.

Liu Peng pointed out that stablecoins are essentially payment tools. Unlike crypto assets such as Bitcoin and Ethereum, their payment attributes are closer to mobile payments. Liu Peng, who has participated in the design of "WeChat Pay" and led the payment business of many large companies, said that stablecoins are on the "eve of the outbreak of mobile payments in the Web3 era" and are expected to reshape international trade payments and financial infrastructure.

In the stablecoin "sandbox" established by the Hong Kong Monetary Authority, JD Coinlink is promoting the testing of Hong Kong dollars and multi-currency stablecoins, and is expected to launch the first batch of compliant stablecoins in the fourth quarter of this year. Liu Peng revealed that the relevant products will be issued based on the public chain, with a transparent and traceable asset mechanism, and will be first applied to JD Global Sales Hong Kong and Macau Station to realize stablecoin shopping and settlement.

Regarding market competition, Liu Peng emphasized that JD Coin Chain does not target crypto-native scenarios, but hopes to open up traditional cross-border trade payment scenarios with compliance, security and efficiency as the core. He said that the stablecoins issued in Hong Kong have the biggest advantage of "compliance", and have negotiated cooperation with many compliant exchanges and payment companies. In the future, stablecoins will be widely circulated in Asia Pacific, the Middle East, Africa and other places.

In terms of technical paths, although stablecoins and mobile payments are both payment tools, they have a decentralized architecture and higher regulatory complexity. Liu Peng believes that stablecoins can be quickly implemented in B-side cross-border transaction scenarios, and at the retail end, they can increase user penetration with the help of phenomenal applications such as "WeChat red envelopes".

In addition, JD Coin Chain is exploring the chaining of supply chain data such as overseas warehouse orders, and cooperating with licensed financial institutions to launch supporting financing services to comprehensively improve the efficiency of funds on the chain.

Looking to the future, Liu Peng said that he will continue to promote the development of products including offshore RMB stablecoins, and help Hong Kong become an international stablecoin settlement hub.

Can stablecoins become the core of the next generation of financial infrastructure? The practical implementation path of JD Coin Chain may provide the answer.