Chinese e-commerce giant JD.com has announced its intention to enter the stablecoin market, which could significantly change the international payment system.
JD.com’s Plans for Launching Stablecoins
Founder Liu Qiangdong revealed the company’s intention to apply for stablecoin licenses in all major jurisdictions, aiming to significantly reduce transaction costs and speed up settlement processes.
JD.com plans to enable settlements within 10 seconds, much faster than traditional systems like SWIFT, which can take two to four days.
Global Expansion and Regulatory Changes
JD.com’s announcement coincides with new regulatory initiatives in the U.S. The recently passed GENIUS Act establishes clear federal norms for stablecoin issuance and use. This creates an environment for increased institutional investment in stablecoins.
Liu also noted that after strengthening the B-side infrastructure, transitioning to consumer payments would be the next step.
Challenges and Business Realism
Despite the ambitious plans, Liu candidly acknowledged that the project may face significant challenges. He stated, "Embracing risk is fundamental to how business operates and essential to innovation."
JD.com will focus on developing its existing business models, aiming to enhance and transform them into robust international operations.
JD.com’s entry into the stablecoin market represents a significant development for global cryptocurrency markets and may catalyze the adoption of blockchain technologies across various sectors.
