JD.com prepares to issue global stablecoin, aiming to reduce payment costs by 90%

The Chinese e-commerce giant JD.com is planning to apply for stablecoin licenses in multiple countries to significantly reduce cross-border payment costs and time, according to statements from founder Richard Liu.

#JD will start with B2B transactions and then expand to consumers. Liu stated that stablecoin could shorten payment times to under 10 seconds and reduce costs by up to 90%. JD expects global users to be able to use "JD's local currencies" for international payments.

This is part of a restructuring strategy following a “5-year period of stagnation” – a time when JD lagged behind due to a lack of innovation. In addition to stablecoin, the company is also expanding into areas such as food delivery and travel.

JD has not disclosed a specific timeline for implementation or the countries prioritized for licensing, but referred to this as an “international project,” implying it will not be applicable in China.

JD's move comes at a time when the GENIUS Act – a bill establishing a legal framework for #stablecoin – has just been approved by the U.S. Senate. Many giants like Amazon, Walmart, and Citigroup are also pursuing this field. However, lawmakers such as Senator Elizabeth Warren warn that stablecoin could be abused to monitor consumers or create market inequities if not tightly regulated.