JD.com targets trillion-dollar stablecoin market to build a global payment network in seconds
JD.com is exploring cryptocurrency payments to achieve a leap in cross-border payments. The company plans to bet on blockchain stablecoin technology to reduce payment time from days to seconds in order to change the way transactions are paid.
JD.com founder Liu Qiangdong said that he would first establish a stablecoin sandbox pilot in Hong Kong and use its blockchain network "Zhizhen Chain" (which has processed about US$7 billion in supply chain financing) to reduce B2B payment settlement time to 10 seconds and significantly reduce costs.
The plan is expected to reduce settlement time from 2-4 days to seconds, and fees can also be reduced by 90%. The company also plans to apply for stablecoin licenses worldwide, and is expected to promote stablecoin payments to global consumers in the future.
JD.com's move can significantly increase transaction speed and reduce costs. For exporters and wholesalers, using JD.com's stablecoin transactions pegged to local currencies can bypass banks and clearing institutions, save millions of dollars in costs each year, and release more cash flow.
JD.com's ambitions extend beyond B2B. The company also plans to integrate 600 million user e-commerce settlements into stablecoins and use its global warehouse and distribution network to allow consumers to pay with digital tokens in covered areas. Analysts speculate that JD.com may push merchants to accept its stablecoins and accelerate the shift from cash and bank cards to digital payments.
It is worth noting that the global stablecoin market is about $250 billion this year and will grow to nearly $1 trillion by 2030. This growth is prompting banks and technology companies to rethink payment methods.
However, these initiatives by JD.com are not without challenges. Although Hong Kong will implement the Stablecoin Ordinance, which will be fully implemented in August 2025, cross-border payments still face legal barriers in many countries. At the same time, Ant Group, PayPal and others are also actively deploying, so JD.com needs to ensure compliance and establish local partnerships to keep up.
In short, despite the challenges of JD.com's stablecoin strategy, it is still trying to seek advantages with its close integration of blockchain technology and retail finance. This is undoubtedly a bold bet, but if successful, it will completely change the payment experience of businesses and consumers.
