Chinese e-commerce giant JD.com is entering the stablecoin space, with founder Liu Qiangdong unveiling plans for a global licensing initiative focused on cross-border payments.
Speaking at a media briefing in Beijing on Tuesday, Liu announced the move just as the U.S. Senate passed the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins), a milestone bill that introduces federal regulations for stablecoins.
“We aim to apply for stablecoin licenses in every major country with a sovereign currency,” Liu said, emphasizing that JD.com’s stablecoin would be designed to facilitate faster and more cost-effective international transactions.
According to Liu, the company’s stablecoin could cut payment costs by 90% and settle transactions in as little as 10 seconds— a dramatic improvement over the traditional SWIFT system, which typically takes two to four days.
JD.com’s Stablecoin Plans Include Expansion Into Retail Sector
JD.com’s stablecoin initiative, initially focused on business-to-business (B2B) transactions, could eventually expand into the consumer payments space. “Once B2B payments are in place, we can move toward consumer-side transactions,” said founder Liu Qiangdong, signaling broader retail ambitions.
Liu acknowledged that the project comes with risks and potential setbacks, stating, “That’s just how business works.”
Despite venturing into digital assets, JD.com remains committed to its core supply chain-focused model. “We’re not pursuing new business models anymore,” Liu said. “Instead, we’ll deepen and strengthen our existing seven or eight models and scale them internationally.”
The announcement coincides with broader digital currency developments in China. On Wednesday, People’s Bank of China Governor Pan Gongsheng revealed plans to establish an international operations center for the digital yuan in Shanghai—part of China’s strategy to globalize its currency and reduce dependence on the U.S. dollar.
JD.com has already embraced China’s Digital Currency Electronic Payment (DCEP) system, having used it since 2021 for employee wages, B2B payments, and interbank settlements.
Stablecoin Interest Surges Amid Emerging Regulatory Frameworks
JD.com’s entry into the stablecoin market comes at a time of growing global interest in stablecoin infrastructure, fueled by evolving regulatory developments.
On Tuesday, the U.S. Senate passed the GENIUS Act—a major step toward establishing federal oversight for stablecoins. The bill had previously failed a cloture vote in May due to Democratic concerns over former President Donald Trump’s ties to the crypto industry. However, it gained new momentum last week when the Senate voted 68–30 to invoke cloture, clearing the path for debate and a full vote on the floor.
Despite this progress, the bill may still encounter resistance in the Republican-controlled House.
Amid these developments, Circle CEO Jeremy Allaire expressed optimism about the sector’s future. “We haven’t quite reached the ‘iPhone moment’—where developers fully grasp the transformative potential of programmable digital dollars on the internet,” Allaire said last week. “But we’re getting close.”
