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After missing out on payments for ten years, Liu Qiangdong aims to launch JD.com's "second payment revolution" with stablecoins?
"On June 17, Liu Qiangdong, Chairman of the Board of JD Group, stated that "JD hopes to apply for stablecoin licenses in all major currency countries worldwide, and then achieve foreign exchange between global enterprises through the stablecoin licenses, reducing global cross-border payment costs by 90% and improving efficiency to within 10 seconds. Liu Qiangdong said, "Currently, remittances between enterprises take an average of 2 to 4 days, and the costs are quite high. After completing B-end payments, we will penetrate into C-end payments, hoping that one day everyone can use JD stablecoins to pay while consuming around the world."
Liu Qiangdong's speech revealed JD.com's ambitions regarding stablecoins in cross-border payment business. For most domestic Web2 giants, while there is some layout in blockchain and other Web3-related businesses, it is mostly strategic experimentation or overseas incubation, which belongs to marginal businesses. In contrast, JD.com is relatively advanced in its exploration of blockchain and stablecoins.
As early as July 2024, JD.com's subsidiary JD Coin Chain Technology (Hong Kong) was included in the list of participants in Hong Kong's stablecoin issuer "sandbox". It has already integrated stablecoins into the group's strategic development blueprint. Yesterday, just hours before the big test on June 18, Liu Qiangdong shared with the media at JD's headquarters in Beijing Yizhuang Building 1, stating, "Next, we will successively launch several new projects, including the stablecoins that have already been issued. JD does not plan to introduce any entirely new business models, but will deepen and strengthen the existing seven or eight business models centered around the supply chain, along with international business. This is roughly our strategy." This shows the importance he places on the stablecoin business.