Author: Tangjun Zhao Hanyu
After Ant announced its application for two stablecoin licenses in Hong Kong, JD.com officially announced its application for a stablecoin license.
June17JD.com hopes to apply for stablecoin licenses in all major currency countries in the world, and hopes that one day everyone can use JD.com stablecoin to pay when consuming around the world.
June19On June19, media reported that JD.com's stable currency plans to be launched as early as the fourth quarter of this year and will first be used in the settlement scenario of JD.com's global sales in Hong Kong and Macau.
In response, JD.com responded to Caijing that it expects to obtain a license in the early fourth quarter of this year and launch JD.com's stable currency at the same time. JD.com's stable currency will be issued on the public chain, and anyone can publicly check the issuance volume and other data. At the same time, JD.com emphasized that the specific timetable depends on supervision.
JD Stablecoin is pegged to Hong Kong dollars and US dollars
Stablecoin is a special type of cryptocurrency (CryptoCurrency), which has the advantages of blockchain technology such as decentralization, peer-to-peer, low cost and high efficiency. Unlike cryptocurrencies such as Bitcoin, stablecoins are usually pegged to reference assets such as legal tender to maintain a relatively stable currency value and serve as a medium for crypto asset transactions.
In recent years, with the characteristics of stable value, high efficiency and low cost, stablecoins have gradually penetrated into traditional financial fields such as cross-border payments.
Liu Qiangdong said at the aforementioned sharing session that JD.com hopes to apply for stablecoin licenses in all major currency countries in the world, and then use the stablecoin licenses to realize foreign exchange between global companies, reducing global cross-border payment costs by 90%and increasing efficiency to 10seconds.
“Nowadays, it takes an average of 24
4
days to remit money between companies, and the cost is also quite high.“Nowadays, it takes an average of 24days to remit money between companies, and the cost is also quite high. After we have completed the payment on the enterprise side, we will move towards the payment on the C side (retail side). We hope that one day everyone can use JD stablecoin to pay when consuming around the world. ” said Liu Qiangdong. In addition, according to JD.com, JD.com stablecoin is a public chain-based currency and is linked to legal currencies such as the Hong Kong dollar (HKD) or the U.S. dollar (
USD): HKD) In July 2024, JD.com's JD CoinChain Technology became one of the first three companies selected for the Hong Kong Monetary Authority's "Stablecoin Issuer Sandbox". JD Coin Chain TechnologyCEOLiu Peng (Chief Executive Officer) said in an interview with Caijing that “issuing payment-type stablecoins through blockchain technology can not only solve the problems encountered in its own cross-border settlement, but also effectively serve other companies and the real economy, and can produce huge economic and social effects for companies and society.”
Currently, JD Stablecoin has entered the second phase of sandbox testing. The test scenarios mainly include cross-border payments, investment transactions, retail payments, etc. In the future, it will provide mobile and
for retail and institutions PC application products. In the cross-border payment scenario test, JD Stablecoin showed the characteristics of fast transaction speed, low cost and uninterrupted service throughout the year. “This makes it very suitable for current international trade settlement applications. ” Liu Peng said. It is worth noting that Liu Qiangdong repeatedly emphasized at the aforementioned sharing session that all of JD.com's businesses revolve around the supply chain. JD.com's stablecoin is also considered an innovative practice around JD.com's supply chain.
Previously, a technology person who has been deeply involved in the Hong Kong market told Caixin that "JD.com cannot only do stablecoins. It will definitely use stablecoins in its own supply chain to improve supply chain efficiency."
Technology giants join in
Before JD.com's official announcement, Ant Group announced that it would apply for two stablecoin licenses in Hong Kong.
A week agoOn June12
, Ant Group's two independent divisions, Ant International and Ant Digits, announced in succession that they would apply for stablecoin licenses. Ant International told Caijing that it is accelerating investment and expanding cooperation in global treasury management, and putting its AI (artificial intelligence), blockchain and stablecoin innovations into real and reliable large-scale applications. Bian Zhuoqun, vice president of Ant Group and president of Ant Digits' blockchain business, said that the core value of stablecoins lies in the expansion of usage scenarios and compliance construction. “
Ant Digits, based on industry and technology, is committed to building digital trading scenarios based on stablecoins and promoting the development of new asset classes with technology as the core of the industry. At the same time, Ant Digits provides a new incremental market for stablecoin transactions and improves transaction efficiency and liquidity by providing a safe, reliable and compliant infrastructure.”Said Bian Zhuoqun.
Behind the entry of technology giants is the gradually clear attitude of regulators towards stablecoins.
On June June 6
, the Hong Kong SAR Government published the Stablecoin Ordinance (Effective Date) Notice in the Gazette, specifying the date on which the Stablecoin Ordinance will come into effect as August 2025On January 1, 2018, it was announced that this new thing derived from cryptocurrency had obtained legal status in Hong Kong. Eastern TimeJune17
On June17, the U.S. Senate voted to pass the "Guide and Establishment of the United States Stablecoin National Innovation Act" (hereinafter referred to as the "GENIUSAct"), marking the first time the House has approved major cryptocurrency legislation. Next, the bill still needs to be passed by the House of Representatives and signed by the President before it can take effect. June18On June18When Pan Gongsheng, Governor of the People's Bank of China, delivered a public speech at the Lujiazui Forum, he mentioned that "emerging technologies such as blockchain and distributed ledgers have promoted the vigorous development of central bank digital currencies and stable currencies, realizing
‘payment is settlement’ ’, reshaping the traditional payment system from the bottom up, significantly shortening the cross-border payment chain, and at the same time posing huge challenges to financial supervision. Technologies such as smart contracts and decentralized finance will also continue to promote the evolution and development of the cross-border payment system. ”
Public data shows that in 2024, the transaction volume supported by stablecoins will reach 27.6
trillion U.S. dollars, exceeding the global payment giants Visa(Visa) and MasterCard's transaction volume. Currently,Visaand MasterCard have announced that they will include stablecoins in their global payment systems. This means that stablecoins are expected to become the mainstream payment and settlement options in global transactions.The capital market has also given positive feedback on stablecoins. The first global stablecoin stock, Circle, has been listed for less than two weeks and its share price has risen by more than 450%. According to Wind data, in the past two weeks, the A-share stablecoin index has risen by nearly 20%.
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