China’s JD.com Plans Global Stablecoin Move to Improve Cross-Border Payments

Highlights:

• JD.com plans to apply for stablecoin licenses in different countries, says Richard Liu.
• Company tests Hong Kong dollar stablecoin, aiming for fourth-quarter launch on public blockchain.
• The stablecoin market could hit $1 trillion by 2030 as global adoption accelerates.

Leading Chinese e-commerce and tech firm JD.com plans to secure stablecoin licenses across multiple countries with their own national currencies, according to its founder and chairman, Richard Liu. During a press event in Beijing on Tuesday, Liu said this would help enable fast and secure global transfers between businesses. He also mentioned that JD.com’s stablecoin project could cut the cost of international payments by up to 90% and reduce transaction times to only 10 seconds. This would be a big upgrade compared to the current delays and high costs in the SWIFT system.

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Chinese e-commerce giant JDdotcom reportedly plans to apply for stablecoin licenses globally, aiming to cut cross-border payment costs by 90%. 💰🇨🇳 pic.twitter.com/N7K1e2g7JS

— Moby Media (@mobymedia) June 18, 2025

JD.com Gears Up for Global Stablecoin Launch with Strong Infrastructure

Richard Liu said he hopes that, in the future, people around the world can use JD’s coin for smooth and easy international payments. JD.com already has a strong system to support this new stablecoin plan. Its Zhizhen Chain blockchain handles about $7 billion each year in supply chain finance. The company’s logistics network also covers 20 countries around the world. 

Since last year, its branch Jingdong Technology has been testing stablecoin payments in Hong Kong’s fintech sandbox for cross-border suppliers. He said JD.com could soon release stablecoins supported by the Hong Kong dollar and other major currencies.

Liu stated:

“As of early June, we have mainly tested the Hong Kong dollar stablecoin, and will test other fiat stablecoins later. Based on market demand, we expect the two stablecoins to be issued at the same time.”

He said the exact launch date will depend on how the new Stablecoin Ordinance develops. However, he believes JD.com will likely get its license by the fourth quarter of the year and plans to launch the “JD Stablecoin” at the same time. He added that JD Stablecoin will run on a public blockchain where anyone can see the total supply and related data openly. When asked about supporting other stablecoins like USDT, USDC, or RMB-backed tokens, Peng said it depends on the rules set by the issuers.

Global Shift Toward Stablecoin Rules

JD.com’s stablecoin push comes as the U.S. and other countries begin shaping clear rules. On June 17, the U.S. Senate passed the GENIUS Act with a 51-23 vote. This is the first time the Senate has approved a bill focused only on stablecoins. Meanwhile, on Wednesday, China’s central bank governor, Pan Gongsheng, said that blockchain and stablecoins are changing how global payments work. He noted they bring faster cross-border transactions, but also create new challenges for regulators.

The global stablecoin market is worth about $250 billion today. Experts believe it could grow to nearly $3.7 trillion by 2030. Big companies like PayPal and MasterCard have already tested or used token-based payments. This is making the competition in the stablecoin space even stronger.

Recent reporting projects that stablecoins could grow into a $3.7 trillion market by the end of the decade. That scenario becomes more likely with passage of the GENIUS Act.

A thriving stablecoin ecosystem will drive demand from the private sector for US Treasuries, which back…

— Treasury Secretary Scott Bessent (@SecScottBessent) June 17, 2025