Chinese e-commerce leader JD.com is preparing to apply for stablecoin licenses in key international markets, according to its founder and chairman, Richard Liu.
The announcement highlights the company's ambitions to expand into digital payments and streamline cross-border transactions.
He noted that JD's proposed stablecoin could reduce cross-border payment costs by 90% and settle transactions in just 10 seconds, far exceeding the speed and cost of traditional SWIFT transfers.
This move comes at a time when global regulators, especially in the United States, are advancing regulatory frameworks for dollar-pegged stablecoins.
For his part, Pan Gongsheng, governor of China's central bank, acknowledged blockchain and stablecoins have revolutionized payment systems, improving cross-border efficiency and posing new regulatory challenges.