# China’s Giants Are Rushing Into Stablecoins!

Hello Matrixians, let's further talk about stablecoin, which is the hot topic around the world. When you look at the European Union, for the past six months they issued around 11-12 licenses to those companies developing stablecoins. And in Hong Kong, about 14 tech giants from China have submitted their application for a license to develop these stablecoins. and of those, including ANTs, or sister companies of Taobao, Alibaba, things like that, and also another e-commerce giant called JD, [JD.com](https://jd.com/). So for JD, let me give you some idea. They process around 1.4 trillion RMB each year and have a supply network of 1 million, I think. So this is a very huge base and a very solid use case for the stable coins. And Matrix AI Network is a local native project company that has what it takes to help support the development of these stable coins and also expanding the use case of stable coins in Hong Kong and also in Asia Territories. Stay tuned. Thank you.

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