- Topic
67k Popularity
72k Popularity
47k Popularity
2k Popularity
4k Popularity
7k Popularity
69k Popularity
140k Popularity
514 Popularity
1757k Popularity
- Pin
67k Popularity
72k Popularity
47k Popularity
2k Popularity
4k Popularity
7k Popularity
69k Popularity
140k Popularity
514 Popularity
1757k Popularity
JD.com enters the global stablecoin battle, can it overturn the USDT hegemony?
While global e-commerce is still troubled by the high fees of cross-border payments, JD.com suddenly dropped a "nuclear bomb"—Liu Qiangdong announced that they will apply for a stablecoin license globally, aiming for a 90% reduction in cross-border payment costs and settlement efficiency within 10 seconds! What ambitions and strategies lie behind this financial revolution initiated by the e-commerce giant?
Compliance First: The New Financial Species "Grown" in Hong Kong's Sandbox
"Compliance is the lifeline of stablecoins," JD understands this well. As early as 2024, the Hong Kong "Stablecoin Ordinance" laid the groundwork for this transformation: a capital threshold of 25 million HKD, 100% reserve asset segregation, and regular audits—JD is riding this "golden track" and has become one of the first players in the Hong Kong Monetary Authority's sandbox testing.
Adopting a dual-track architecture of "Ethereum public chain + consortium chain", processing 100,000 transactions per second, which is 10,000 times faster than the SWIFT system.
Cooperating with Tianxing Bank, 1:1 peg to HKD, reserve assets are custodied by licensed institutions, and each transaction is traceable. Key Insights: Hong Kong is not only a testing ground but also a springboard. JD's next step is to launch an offshore RMB stablecoin (JD-CNH), directly targeting trade settlements along the "Belt and Road" initiative, complementing the digital RMB.
Scene Revolution: From "7 Days to Settlement" to "7 Seconds to Transaction"
Liu Qiangdong's killer move lies in JD's global supply chain:
Southeast Asian suppliers receive payments through JD stablecoin, with funds arriving in 7 seconds instead of 7 days, and transaction fees reduced from 6% to 0.1%, saving over 2 billion yuan annually for the JD ecosystem.
In the future, using JD-HKD for shopping on JD's Hong Kong and Macau station will incur 0 fees and settle at real-time exchange rates, which may pose a threat to credit card companies. Case Highlight: The stablecoin-linked card developed in collaboration between JD and Visa has entered testing. Consumers can shop overseas with JD-HKD, with funds arriving in the merchant's account instantly, completely eliminating the anxiety of exchange rate fluctuations.
Dark War Giants: The "Siege and Counter-Siege" of Ant Group and Amazon
The global stablecoin market has long been shrouded in smoke and haze:
Ant Financial chooses a private chain to enhance security, while JD.com bets on the openness of a public chain, even planning to integrate metaverse shopping and NFT scenarios to compete for the entry point of the Web3 ecosystem.
Ant Group is expanding its presence in Singapore and Luxembourg, while JD.com is focusing on Hong Kong as its axis, leveraging the offshore RMB internationalization strategy in an attempt to overtake competitors. Data Hard Core: USDT and USDC still dominate 86% of the market share, but JD.com boasts 250 million active users and 12 million suppliers worldwide - this is the true "ecological ammunition depot."
Life and Death Challenge: The Ultimate Showdown of the Compliance Labyrinth and "Dollar Hegemony"
Behind Liu Qiangdong's ambition lies three hidden blows:
The EU requires stablecoin issuers to hold a banking license, and the US may include them under securities regulation. If JD.com wants to enter the European and American markets, compliance costs will soar. 2. Technical Covert War
Risks such as smart contract vulnerabilities and cross-chain bridge delays could cause the "10-second myth" to collapse instantly. 3. Trust Game
Do users dare to entrust their hard-earned money to stablecoins issued by enterprises? JD must prove itself with 100% transparent reserves and second-level redemption capabilities. Experts predict: Hong Kong's Financial Secretary Paul Chan has stated: "Stablecoins are the bridge between traditional finance and the digital world." The success or failure of JD will determine whether Chinese enterprises can stand firm on this bridge.
The Beginning of a "Silent Revolution"
When Liu Qiangdong pressed the start button for the stablecoin, he was betting not only on the future of JD.com but also on China's global discourse power in the digital financial era. This revolution has no smoke of gunpowder, yet it may be more brutal than the e-commerce war—because its battlefield is the global payment network that flows with 150 trillion dollars every second.