JD.com’s Plan for Stablecoin Licenses

China’s e-commerce giant JD.com has recently announced its intentions to apply for stablecoin licenses in significant global regions. This move aims to expedite cross-border transactions and minimize payment times, as well as reduce transaction costs by up to 90%.

Following this announcement, the deployment of stablecoins in key international markets is anticipated to significantly streamline business operations, with settlement periods potentially reduced to less than ten seconds. JD.com plans to start the licensing process in Hong Kong, followed by expansion into other economies, with full rollouts expected later in 2025.

The company will focus on meeting evolving market needs and preferences while ensuring compliance with regulatory requirements. By leveraging its internal blockchain network for initial business payments, JD.com aims to eventually extend stablecoin use to consumer-facing ecommerce platforms.

In related news, the U.S. Senate has passed a landmark bill, the Guiding and Establishing National Innovation for US Stablecoins (GENIUS Act), which outlines federal oversight for this growing sector. This legislative development reflects the increasing importance of stablecoins in financial transactions.

JD.com’s push into the stablecoin market aligns with China’s broader strategy to internationalize its digital currency, the CNY, as part of a multi-polar global economic system. The People’s Bank of China is also planning to establish an international operations center for e-CNY in Shanghai to support this initiative.

This development comes amid heightened demand for alternative currencies due to trade tensions and USD-based investment constraints imposed by US tariff policies.