JD.com, a leading Chinese e-commerce firm, is entering the stablecoin market, as founder Liu Qiangdong announced plans for a global licensing initiative to facilitate cross-border payments. This announcement coincided with the US Senate's passage of the GENIUS Act, which aims to establish federal regulations for stablecoins. Liu expressed intentions to apply for stablecoin licenses in major countries, emphasizing that the new currency could significantly lower transaction costs by 90% and enable transfers within 10 seconds, unlike the traditional SWIFT system that takes days. Initially focusing on B2B transactions, JD.com may later expand to consumer payments. Liu acknowledged potential challenges but affirmed that setbacks are part of business. The company aims to enhance its existing business models while pursuing international growth. Meanwhile, the People's Bank of China is working on an international digital yuan operations center to promote the digital yuan and lessen reliance on the US dollar. JD.com’s move aligns with the growing global interest in stablecoin infrastructure. Read more AI-generated news on: https://app.chaingpt.org/news