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Chinese tech giants pause stablecoin plans after Beijing steps in, FT reports

Chinese tech giants including Alibaba-backed Ant Group and e-commerce group JD.com have paused plans to issue stablecoins in Hong Kong after the government raised concerns about the rise of currencies controlled by the private sector, the Financial Times reported on Saturday.

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Oct 19, 2025 - 08:00
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Chinese tech giants pause stablecoin plans after Beijing steps in, FT reports
Chinese tech giants including Alibaba-backed Ant Group and e-commerce group JD.com have paused plans to issue stablecoins in Hong Kong after the government raised concerns about the rise of currencies controlled by the private sector, the Financial Times reported on Saturday.
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