{"id":75603,"date":"2025-06-18T09:02:08","date_gmt":"2025-06-18T09:02:08","guid":{"rendered":"https:\/\/jalancoin.com\/index.php\/2025\/06\/18\/jd-com-enters-stablecoin-race-amid-us-genius-act-push\/"},"modified":"2025-06-18T09:02:08","modified_gmt":"2025-06-18T09:02:08","slug":"jd-com-enters-stablecoin-race-amid-us-genius-act-push","status":"publish","type":"post","link":"https:\/\/jalancoin.com\/index.php\/2025\/06\/18\/jd-com-enters-stablecoin-race-amid-us-genius-act-push\/","title":{"rendered":"JD.com Enters Stablecoin Race Amid US GENIUS Act Push"},"content":{"rendered":"

[ad_1]\n<\/p>\n

\n

Chinese e-commerce giant JD.com is stepping into the stablecoin arena, with founder Liu Qiangdong revealing plans for a global licensing push aimed at cross-border payments.<\/p>\n

The announcement, made<\/a> during a media briefing in Beijing on Tuesday, came as the US Senate passed the Guiding and Establishing National Innovation for US Stablecoins<\/a>, or GENIUS Act, a landmark bill establishing federal guardrails for stablecoins.<\/p>\n

\u201cWe hope to apply for our stablecoin license in all major sovereign currency countries in the world,\u201d Liu said. He outlined that the stablecoin would be used<\/a> to enable faster, cheaper global transactions.<\/p>\n

\u201cWe can reduce payment costs by 90% and deliver within 10 seconds,\u201d he claimed, contrasting this with the traditional SWIFT system\u2019s two-to-four-day settlement window.<\/p>\n

\"Cryptocurrencies,
Source: <\/em>Cointelegraph<\/em><\/a><\/figcaption><\/figure>\n

Related: <\/strong><\/em>Malaysia launches Digital Asset Hub to test stablecoin, programmable money<\/strong><\/em><\/a><\/p>\n

JD.com stablecoin plans to expand to retail<\/h2>\n

Initially targeting business-to-business (B2B) transactions, JD\u2019s stablecoin plans could eventually extend to consumer payments. \u201cAfter B-side payment is completed, we can move toward C-side payment,\u201d Liu noted, hinting at broader retail ambitions.<\/p>\n

Liu mentioned that their ambitious project may face challenges and even fail, but said that is \u201chow business works.\u201d<\/p>\n

JD.com is pushing to go global while sticking to its supply chain-focused business model. \u201cWe are not going to do new models anymore,\u201d Liu said. \u201cBut we will deepen and strengthen the existing seven or eight business models [\u2026] and make them international businesses.\u201d<\/p>\n

On Wednesday, People\u2019s Bank of China Governor Pan Gongsheng announced<\/a> plans to establish an international digital yuan operations center in Shanghai as the country accelerates efforts to internationalize the digital yuan and reduce global reliance on the US dollar.<\/p>\n

In 2021, JD.com started using China\u2019s Digital Currency Electronic Payment (DCEP)<\/a> system to pay employee salaries, B2B payments and cross-bank settlements.<\/p>\n

Related: <\/strong><\/em>Ubyx raises $10M to Standardize Stablecoin Redemption<\/strong><\/em><\/a><\/p>\n

Interest in stablecoins rises with new regulations<\/h2>\n

JD.com\u2019s push into the stablecoin sector comes amid rising interest in stablecoin infrastructure globally, with new regulatory reforms.<\/p>\n

On Tuesday, the Senate passed the GENIUS Act<\/a>. The bill\u00a0initially failed a cloture vote<\/a> in the Senate in May in response to Democratic opposition to US President Donald Trump\u2019s connections to the cryptocurrency industry.<\/p>\n

However, last week, in a 68\u201330 vote, the Senate voted to invoke cloture for the bill<\/a>, setting it up for debate and a full floor vote. <\/p>\n

The bill may still face hurdles in the Republican-held House.<\/p>\n

Last week, stablecoin issuer Circle CEO Jeremy Allaire suggested that the stablecoin breakthrough moment<\/a> isn\u2019t far off. \u201cWe are not quite yet at the iPhone moment when developers everywhere realize the power and opportunity of programmable digital dollars on the internet in the same way they saw the unlock of programmable mobile devices,\u201d Allaire said.<\/p>\n

Magazine:\u00a0<\/strong><\/em>Older investors are risking everything for a crypto-funded retirement<\/strong><\/em><\/a><\/p>\n