JD issues coins to deliver food, a gamble or a strategy?

Recently, JD has boldly issued the stablecoin JDG in Hong Kong, while also making a grand entry into the fiercely competitive food delivery market. If this move is seen merely as a usual business expansion, it would be a superficial interpretation. A closer look reveals that it is indeed a 'cornered beast still fighting' and also a 'desperate battle'.

First, let's talk about the issuance of the stablecoin. On the surface, JD is promoting 'technological innovation and convenience in cross-border payments,' but it actually carries three deeper meanings:

First, to open up the channels of overseas capital

Second, to bet on the new order of future trade

Third, to establish a new front in data hegemony

As for the aggressive push into food delivery, it may seem surprising: with Meituan already dominating and Ele.me surviving in the cracks, why would a prominent e-commerce giant lower itself to gnaw on such a slim profit and fiercely competitive bone? However, if we think from another angle, this is actually a 'forced breakout'.

Under the Matthew effect, the growth of e-commerce traffic has already peaked, and new battlegrounds like live e-commerce, community group buying, and instant retail are emerging. Meituan's instant delivery network established in food delivery has become an irreplaceable infrastructure. If JD does not intervene, the future integration of 'instant retail + food delivery + home delivery' will be handed over to others. It can be said that JD's actions align with what is said in 'The Art of War': 'When the momentum can be obtained, engage; when it cannot be obtained, defend it.' Seeing that defense is untenable, the only option is to attack to defend.

At the same time, while the food delivery industry appears 'dirty, tiring, and hard,' it actually hides the last gold mine of high-frequency user scenarios. To have users is to have the future; even if profitability is far away, JD has no choice but to grit its teeth and 'burn money to exchange for life'.

Overall, JD issuing coins and delivering food may seem like two battle lines, but in fact, they belong to the same grand strategy: on one side, opening up international capital flows, and on the other side, solidifying the local user base; on one side, planning the future currency landscape, and on the other side, competing for the entrance of instant retail.

However, beneath the rapid advance lies hidden worries. Whether it is the regulatory risks of stablecoins or the fierce battles over food delivery subsidies, these are not easy matters. If one acts too hastily, it could fall into external troubles or be disturbed by internal conflicts, ultimately resulting in 'when the clam and the snipe contend, the fisherman profits,' which remains uncertain.