JD.com Eyes Global Stablecoin Push to Transform Cross-Border Payments

Chinese e-commerce titan JD.com has unveiled ambitious plans to revolutionize global cross-border payments through a comprehensive stablecoin licensing strategy, with founder Liu Qiangdong promising to cut transaction costs by up to 90% while reducing settlement times to under 10 seconds, Chinese news outlet Sina Technology reported .

The announcement, delivered by Liu during a Beijing media briefing on Tuesday, positions the retail powerhouse as the latest major player entering the increasingly competitive stablecoin arena. JD.com plans to apply for stablecoin licenses in multiple countries as part of a comprehensive effort to reduce the cost and time of cross-border payments, targeting what the company sees as fundamental inefficiencies in the current correspondent banking system.

JD's existing infrastructure provides a solid foundation for this ambitious pivot. The company's Zhizhen Chain blockchain network already processes approximately $7 billion annually through supply chain finance operations, while its logistics footprint spans 20 countries. Through its subsidiary Jingdong Technology, the company has quietly operated within Hong Kong's fintech sandbox since Q1 2024, piloting stablecoin use cases for cross-border supplier payments.

Beyond B2B: Consumer Integration on the Horizon

While JD's initial focus centers on business-to-business transactions, the company's long-term vision extends to its massive consumer base. With nearly 600 million active users across its e-commerce platforms, JD plans to eventually integrate stablecoin payments into its checkout experience, potentially creating one of the world's largest consumer digital currency ecosystems.

"We can reduce payment costs by 90% and deliver within 10 seconds," Liu claimed, highlighting the stark contrast with traditional cross-border payments that typically require two to four days for settlement. The company's approach involves eliminating intermediary banks, clearinghouses, and other third parties to enable direct company-to-company settlements using stablecoins.

Racing Against Tech Giants in Asia's Regulatory Haven

JD's stablecoin ambitions emerge alongside similar moves from other Chinese tech giants. Ant Group, the financial arm behind Alipay, has announced plans to apply for Hong Kong stablecoin licenses when the city's new regulatory framework takes effect in August 2025, while also exploring approvals in Singapore and Luxembourg.

Hong Kong has positioned itself as the regional leader for regulated stablecoin innovation, operating a fintech sandbox since 2023 that has attracted global players including Standard Chartered and Xiaomi's Tianxing Bank. With its new Stablecoin Ordinance set to roll out in full by August 2025, the city is positioning itself as a launchpad for Asia's next wave of fintech disruption, one that mainland companies like JD and Ant can tap into, despite China's domestic crypto ban.

The global stablecoin market, currently valued at approximately $250 billion, is projected to approach $1 trillion by 2030 according to industry analysts. Western financial giants including PayPal and MasterCard have already deployed or tested token-based settlement systems, intensifying competition in the space.