The Chinese giant of e-commerce JD.com enters the Stablecoin Arena, and the founder of Liu Qiangdong reveals plans for global license pressure aimed at cross-border payments.
Announcement, made During the media briefing in Beijing, he came on Tuesday when the US Senate passed the presidency and establishing national innovations for American Stablecouins or Genius Act, a groundbreaking bill establishing federal handrails for Stablecoins.
“We hope to apply for our Stablecoin license in all major currency countries in the world,” Liu said. He presented that Stablecoin will be used to turn on faster, cheaper global transactions.
“We can reduce payment costs by 90% and deliver within 10 seconds,” he said, contrasting with the settlement window of the customary Swift system.
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JD.COM Stablecoin plans to develop for retail
Initially focused on business transactions (B2B), JD Stablecoin plans can ultimately expand to consumer payments. “After completing the payment on side B, we can go to payment on the C side,” Liu noted, pointing to wider retail ambitions.
Liu mentioned that their ambitious project could face challenges and even disappoint, but said that “how business works.”
JD.Com strives for Global, while sticking to the business model focused on the supply chain. “We’re not going to make new models anymore,” Liu said. “But we will deepen and strengthen the existing seven or eight business models […] and make them international companies. “
On Wednesday, Chinese Governor Bank People Bank Mr. Gongsheng announced It plans to establish the International Operational Center of the Digital Yanu in Shanghai, because the country accelerates the efforts of the internationalization of digital juanu and the limitation of global rely on the American dollar.
In 2021, JD.COM began to utilize the Chinese digital system of electronic payment (DCEP) to pay employee salaries, B2B payments and settlements between banks.
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Stablecoins’s interest is rising with the up-to-date regulations
Information JD.COM to the Stablecoin sector results from the growing interest in Stablecoin infrastructure around the world, with up-to-date regulatory reforms.
On Tuesday, the Senate adopted the Genius Act. Initially, the Act failed to vote in the Senate in May in response to the democratic opposition to the connections of the US President Donald Trump with the cryptocurrency industry.
However, last week, in voting 68-30, the Senate voted in favor of relying to the laws of the Act, establishing it for a debate and a full vote on the first floor.
The bill may still face obstacles in the republican house.
Last week, the General Director of Emiters Circle Stablecoin, Jeremy Allaire suggested that the breakthrough moment Stablecoin is not far away. “We are not yet at the iPhone, when programmers are everywhere aware of the virtue and programmable possibilities of digital dollars on the Internet in the same way they saw the unlocking of programmable mobile devices,” said Allaire.
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