JD.com Pursues Global Stablecoin Licenses to Transform Cross-Border Payments

JD.com, the Chinese e-commerce giant, has announced plans to apply for stablecoin licenses in multiple countries as part of a comprehensive strategy to revolutionize cross-border payments.

Liu explained that JD.com aims to launch stablecoin services worldwide, beginning with business-to-business (B2B) payments before eventually expanding to consumer-facing applications.

“Our goal is to apply for stablecoin licenses in every major sovereign currency jurisdiction across the globe. We envision a future where people everywhere can use JD’s localized stablecoins for seamless international payments.”

The company believes that stablecoins can drastically reduce settlement times to under 10 seconds and cut payment costs by up to 90%, marking a significant improvement over traditional payment systems.

This stablecoin initiative is part of JD.com’s broader effort to reverse years of stagnation.

Liu referred to the company’s recent struggles as “five lost years,” characterized by limited innovation and sluggish growth.

Growing Momentum Behind Stablecoins

JD.com’s push for stablecoin adoption comes amid a rising global interest in this technology.

Just recently, the U.S. Senate passed the GENIUS Act, a landmark bill designed to establish a regulatory framework for issuing and trading stablecoins.

Despite the enthusiasm, some critics caution that stablecoins could give large corporations the power to issue private currencies capable of tracking consumer data.

Senator Elizabeth Warren has openly criticized the GENIUS Act, warning it could serve as a backdoor for tech giants such as Elon Musk, Jeff Bezos, and Mark Zuckerberg to launch surveillance-based financial products.

“If Congress doesn’t fix it, billionaires could issue stablecoins that monitor your purchases, exploit your data, and squeeze out competitors — then come begging for a bailout when it inevitably blows up.”

Other experts highlight that stablecoins generally offer little value to consumers since they rarely yield interest, even though companies may profit from customer deposits.

Philippe Laffont, founder of Coatue Management, has advocated for contracts that would pass spot interest rates directly to stablecoin holders.

JD.com has not specified a launch timeline or prioritized jurisdictions for its stablecoin licensing applications.

However, the company described the initiative as an “overseas project,” suggesting it will initially focus on markets outside of China.