JD.com’s Bold Entry into Stablecoin Payments
JD.com, one of China’s largest e-commerce companies, plans to create its own stablecoin in order to transform global payment systems. Company founder Richard Liu announced recently that JD.com plans to apply for stablecoin licenses in all major overseas markets. The goal? To make cross-border payments easier and faster while cutting costs by 90%.
As U.S. Secretary of State Antony Blinken was visiting China this week, Liu made the announcement during a media briefing in Beijing. The GENIUS Act, a bill aimed at creating federal oversight of stablecoins, passed the Senate. With clearer regulations in both East and West, JD.com seems ready to claim a major stake in the evolving fintech sector.
“We will get stablecoin licenses in all major sovereign currency areas,” Liu said.
Moreover, the new payment system could settle transactions in under 10 seconds—much faster than SWIFT’s two- to four-day timeframe.
B2B First, Retail Later
A stablecoin system will initially focus on B2B transactions. JD.com will explore C-side (consumer-side) payments later, depending on regulations. Essentially, consumers will be able to purchase YUAN+, similar to buying Bitcoin or Ethereum.
“We are kicking things off with B2B,” Liu pointed out, “but after that foundation is built, we will have a look at larger retail use.”
JD.com is investing billions of dollars in hopes of recovering from five years of lag in innovation and growth. As the company expands globally, it aims to strengthen its existing supply chain-driven model rather than pivoting to new business areas.
A Regional Sandbox Strategy
JD．com, through its subsidiary JD Coin Chain Technology, is participating in Hong Kong‘s stablecoin sandbox to explore the application of stablecoins. JD.com’s blockchain ambitions could be put to the test under Hong Kong’s new or ongoing regulatory framework, especially given the stringent limits on the mainland.
Liu emphasized that stablecoin payments are much more efficient than traditional systems relying on banking intermediaries.
“I hope I can one day find a shop anywhere in the world using JD’s local currency,” he said.
Industry-Wide Momentum
JD.com isn’t the only one making moves. According to reports, other major players like Ant International and U.S. retail giants Amazon and Walmart are also exploring stablecoin issuance.
The recent legislative progress, such as the GENIUS Act, which passed in the U.S. Senate, is noteworthy. The bill defines the jurisdiction of federal agencies like the Federal Reserve, FDIC, and U.S. Treasury over stablecoin issuers.
However, the bill still faces challenges in the House of Representatives, where Republicans have led some debates.
Meanwhile, industry experts note that JD.com’s move indicates that stablecoins are maturing beyond pilot stages in Asia.
“Being able to launch its own stablecoin will help the firm avoid paying heavy interchange fees,” said Fireblocks’ Amy Zhang. “Settlement speeds will be enhanced, while yields on stablecoin-held assets could also be harvested.”
The Future of Digital Payments
As global interest in digital payments increases, JD.com represents a shift in momentum. Rather than waiting for traditional finance to evolve, tech giants are building their own financial infrastructure to reimagine how money moves in the digital age.
