JD.com Plans to Launch Stablecoin
Chinese e-commerce giant JD.com is entering the stablecoin market, with founder Liu Qiangdong announcing plans to seek licensing across major countries to support cross-border payments.
Speaking at a media briefing in Beijing, Liu said the company’s stablecoin would enable faster and cheaper international transactions. “We can reduce payment costs by 90% and deliver within 10 seconds,” he said, comparing it to SWIFT’s typical two-to-four-day settlement time.
While initially focusing on B2B transactions, Liu hinted the stablecoin could eventually support retail payments as well. He acknowledged the risks of the project failing but noted, “that is how business works.” JD.com plans to globalize its existing business models rather than launch new ones.
Meanwhile, the People’s Bank of China announced plans to establish an international digital yuan operations center in Shanghai, part of China’s broader goal to internationalize its currency and reduce dependence on the U.S. dollar. JD.com has already used the DCEP system since 2021 for salaries, business payments, and interbank settlements.
JD.com’s announcement coincides with growing global momentum for stablecoin regulation. On the same day, the U.S. Senate passed the GENIUS Act, establishing federal rules for stablecoins, though it still faces challenges in the House. The bill had previously failed in May but passed cloture last week with a 68–30 vote.
As regulation advances, interest in stablecoins is rising. Circle CEO Jeremy Allaire recently stated that a key turning point is near, saying, “We are not quite yet at the iPhone moment when developers everywhere realize the power and opportunity of programmable digital dollars on the internet in the same way they saw the unlock of programmable mobile devices.”
Sources:
https://cointelegraph.com/news/jdcom-stablecoin-global-licensing-genius-act