Chinese Giant JD.com Enters Global Stablecoin Race

Chinese e-commerce giant JD.com is launching its own stablecoin, aiming for global licenses to drastically cut cross-border payment costs by 90% and reduce settlement times to just 10 seconds. This move comes as the US Senate passed the GENIUS Act on June 17, 2025, a landmark bill setting federal rules for stablecoins. JD.com initially targets business transactions but plans to expand to consumer payments, betting on stablecoins to boost its international supply chain business.