JD.com, the second largest e-commerce company in China, is entering the DeFi space. They have recently recruited DeFi experts to develop new financial products such as stablecoins and programmable financial services. This move comes as Hong Kong has allowed the issuance of fiat-linked digital currencies since August 1.

Additionally, JD is developing a PayFi model, which combines payment and finance through smart contracts, helping to tokenize assets in the supply chain to increase value. JD combines domestic compliance strategies with international innovation, targeting both Web2 and Web3 to enhance competitiveness.