JD Stablecoin revolutionizes cross-border payments

Since JD.com's stablecoin entered the public eye, it has attracted much attention. It is currently in the second phase of sandbox testing, and cross-border payment and other scenarios are the core direction of the test.

In cross-border payment scenarios, JD.com's stablecoin has significant advantages. In the past, traditional cross-border payment methods had high fees. For example, JD.com's cross-border transactions of US$100 billion per year have traditional payment fees as high as 6%, and the payment cycle is long, usually taking 3-7 days. JD.com's stablecoin has reduced the cost to one hundred thousandth through technological innovation, and the payment time has been greatly shortened from the original daily calculation to minutes, and even in ideal conditions, it can reach seconds. For example, merchants engaged in cross-border e-commerce used to pay overseas suppliers, and a sum of money might have to wait for several days to arrive, and they had to pay high fees. If JD.com's stablecoin is used, not only will the fees be greatly reduced, but the funds can be received in a short time, greatly improving the efficiency of capital turnover. For cross-border e-commerce businesses, this can greatly improve transaction efficiency and reduce operating costs.

JD Stablecoin also actively cooperates with various institutions to expand cross-border payment applications. In terms of banking cooperation, JD may reach cooperation with internationally renowned banks, and use the global network and service system of banks to broaden the exchange channels of stablecoins, so that more users can easily exchange legal currency for JD Stablecoins, and vice versa, thereby expanding the coverage of stablecoins worldwide. In terms of payment institution cooperation, JD and payment institutions work together to jointly develop payment solutions based on JD Stablecoins, so that stablecoins can be used in more online and offline payment scenarios, providing users with more diversified payment options. In the field of e-commerce platform cooperation, JD will cooperate with other e-commerce platforms to allow JD Stablecoins to be used as a means of payment in transactions on these platforms, further expanding the application boundaries of stablecoins and enhancing their influence in the field of cross-border e-commerce payments.

In order to ensure the smooth testing of cross-border payment and other scenarios and the stable operation of stablecoin business in the future, JD has invested a lot in technology research and development and compliance operations. On the technical level, we will continue to strengthen the research and development and application of blockchain technology, improve the system's processing capabilities, enable it to cope with large-scale concurrent transactions, and improve the security of the system. Through encryption algorithms, multi-signatures and other technical means, we will prevent hacker attacks and data leaks, and ensure the security of users' assets and the confidentiality of transaction information. In terms of compliance operations, JD.com actively maintains close communication and cooperation with the Hong Kong Monetary Authority and regulators in other regions around the world, strictly abides by local regulatory policies and regulations, and complies with compliance requirements in every link from the issuance, circulation to use of stablecoins, such as establishing strict anti-money laundering and anti-terrorist financing mechanisms, strictly reviewing user identities, ensuring the legality and compliance of transactions, and promoting the compliance of JD.com's stablecoin business worldwide.