Chinese e-commerce giant JD.com is entering Stablecoin Arena, founder Liu Qiangdong reveals plans for global licensing drives for cross-border payments.
announcement, Made In a media briefing in Beijing on Tuesday, the U.S. Senate passed Guiding and building innovation for the United States stable countryor Genius Act, a landmark bill to establish a federal government for stablecoins.
“We want to apply for our stability permits in all the major sovereign currencies in the world,” Liu said. Stablecoin will be used Enable faster and cheaper global transactions.
“We can reduce payment costs by 90% and deliver in 10 seconds,” he claimed. This is compared to the two to four-day settlement window of the traditional Swift System.
Related: Malaysia launches digital asset hub to test Stablecoin, programmable funding
JD.com Stablecoin plans to expand to retail
JD’s Stablecoin program initially targets business-to-business (B2B) transactions and may eventually expand to consumer payments. Liu pointed out: “After completing the payment on the B side, we can pay to the C side.”
Liu mentioned that their ambitious projects may face challenges or even fail, but this is “how the business works.”
The move shows that JD.com is advancing global growth while adhering to its supply chain-focused business model. “We don’t want to make new models anymore,” Liu said. “But we will deepen and strengthen the seven or eight existing business models (…) and make them international businesses.”
On Wednesday, People’s Bank of China Governor Pan Gongsheng Announce As the country accelerates its efforts to internationalize the digital RMB and reduce global dependence on the US dollar, the country’s plan to establish an international digital RMB operation center in Shanghai.
In 2021, JD.com begins Electronic payment using digital currency in China (DCEP) Systems that pay employees’ salaries, B2B payments and cross-bank settlements.
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Interest in Stablecoins grows with new regulations
JD.com’s entry into the Stablecoin industry is driven by rising global interest in Stablecoin infrastructure and new regulatory reforms.
Tuesday, the Senate Passed the genius method. bill Initially failed the ticket In May, the Senate opposes democratic opposition to U.S. President Donald Trump’s connection to the cryptocurrency industry.
However, last week, the Senate voted 68-30 Vote to convene the billset it to debate and full vote. Still, the bill may still encounter obstacles in Republican-controlled homes.
Last week, Circle CEO Jeremy Allaire’s Stablecoin Suggest a stable breakthrough moment Not far away. “We’re not yet at the iPhone moment, when developers at the time realized the power and opportunity of programmable digital dollars on the internet, just like they saw programmable and programmable mobile devices,” Allaire said.
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