Ant Group and JD.com Suspend Plans for Hong Kong Stablecoin

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Oct 20 2025

Regulatory Intervention: Ant Group and JD.com have paused their stablecoin projects in Hong Kong due to pressure from China's central bank, reflecting the government's focus on controlling digital currency issuance.
Market Impact: The halt in these initiatives has led to a decline in stock values for both companies, with shares dropping 5-8% amid investor concerns over regulatory repercussions.
Historical Context: This situation is reminiscent of the 2020 suspension of Ant Group's IPO, highlighting ongoing regulatory scrutiny regarding the issuance of digital currencies by private entities.
Future Implications: Analysts predict that this regulatory caution may result in stricter oversight of private fintech initiatives in China, potentially slowing the pace of innovation in the digital currency sector.

About the author

Preview

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.