With a push for stablecoin licenses worldwide, JD.com Chairman Liu Qiangdong wants fiat-pegged tokens to do what banks can’t: settle in seconds. His vision calls for 10-second settlements across continents, anchored in licensed stablecoins and JD’s own e-commerce empire.

Technology-driven eCommerce company JD.com is reportedly seeking stablecoin licenses across major economies, with Chairman Liu Qiangdong revealing plans to revolutionize cross-border payments during a June 17 corporate sharing session.

In a Monday briefing reported by Sina Technology, Qiangdong laid out an ambitious plan to leverage blockchain-based stablecoins to slash international transaction times from days to seconds, while reducing costs by 90%. If successful, the move would pose the first real challenge in decades to SWIFT’s stranglehold on global corporate transactions.

“Now it takes an average of 2 to 4 days to transfer money between companies, and the cost is quite high. After we complete the B-end payment, we will penetrate into the C-end payment. We hope that one day everyone can use JD stablecoin to pay when consuming around the world,” Liu Qiangdong said.

JD.com’s stablecoin ambitions didn’t emerge in a vacuum. Through its subsidiary Jingdong Technology, the company has quietly operated within Hong Kong’s fintech sandbox since Q1 2024, piloting stablecoin use cases for cross-border supplier payments.

At the core is Zhizhen Chain, JD’s proprietary blockchain platform, which already handles over $7 billion annually in supply chain finance transactions. Unlike speculative crypto projects, JD’s approach mirrors Ant Group’s methodical strategy: deploy blockchain internally first, then monetize the rails.

JD.com now joins a high-stakes race with Chinese rival Ant Group, which is pursuing its own Hong Kong stablecoin license, and Western giants testing the waters. Amazon has reportedly explored a stablecoin for marketplace settlements, while Walmart’s blockchain patents suggest similar plans.

But JD’s advantage lies in its captive ecosystem. With nearly 600 million active users and a logistics network spanning 20 countries, it could onboard merchants to its stablecoin by mandate, much like Alipay dominates Chinese payments.