Beijing, China – June 19, 2025 – JD.com, China's colossal e-commerce giant with a valuation of $42 billion, is making a significant leap into the global digital finance arena. The company has announced ambitious plans to apply for stablecoin licenses across major international markets, aiming to drastically cut the costs and accelerate the speed of cross-border transactions.
Richard Liu, founder and chairman of JD.com, revealed the company's vision during a press briefing in Beijing. He stated that JD.com intends to seek stablecoin licenses in "all major sovereign currency countries in the world" with the ultimate goal of enabling seamless global payments for businesses and, eventually, consumers.
This bold move is poised to disrupt the traditional cross-border payment landscape. Liu highlighted the stark inefficiencies of current systems like SWIFT, which can take two to four days and incur substantial fees. JD.com's stablecoin initiative, leveraging its existing Zhizhen Chain blockchain network (which already processes approximately $7 billion annually in supply chain finance), aims to reduce payment costs by up to 90% and settle transactions in under 10 seconds.
JD.com's foray into stablecoins builds upon its existing efforts. The company's subsidiary, Jingdong Coinlink Technology, has been actively testing Hong Kong dollar-pegged stablecoins within Hong Kong's fintech sandbox since early 2024. These trials have focused on cross-border supplier payments, proving the efficacy of their internal blockchain network.
The company plans to initially focus on business-to-business (B2B) transactions, providing a more efficient and cost-effective solution for its vast network of merchants and suppliers. However, the long-term vision includes expanding stablecoin integration to its consumer-facing e-commerce platforms, potentially allowing its nearly 600 million active users to pay with JD-issued tokens.
JD.com's announcement comes at a pivotal time in the global stablecoin landscape. The recent passage of the "Guiding and Establishing National Innovation for US Stablecoins" (GENIUS) Act by the U.S. Senate signals growing regulatory clarity and momentum for stablecoins in major economies. This legislative progress, coupled with similar moves by other tech and financial giants like Ant Group (Alipay's parent company) and even Western players like PayPal and MasterCard, underscores the increasing mainstream acceptance and potential of digital currencies for payments.
While JD.com's focus will initially be on international markets, given China's domestic stance on cryptocurrencies, the company's strategic push into stablecoins aligns with broader trends of digital currency internationalization. People's Bank of China Governor Pan Gongsheng recently acknowledged the transformative impact of blockchain and stablecoins on traditional payment systems, highlighting their efficiency improvements for cross-border transactions.
By streamlining global payments, JD.com aims not only to enhance its own business operations and expand its international footprint but also to position itself at the forefront of the evolving digital finance ecosystem. The success of this ambitious undertaking could redefine how goods and services are traded globally, ushering in an era of faster, cheaper, and more accessible cross-border commerce.