JD.com Just Kicked Down the Door to Stablecoins—And the US Is Sweating

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So, picture this: Chinese e-commerce heavyweight JD.com (the folks who want you to have groceries faster than your existential dread sets in) is now jumping into the world of stablecoins. Yes, stablecoins—the cryptocurrency cousin who shows up to Thanksgiving and tries to explain blockchain to your grandma. Liu Qiangdong, the big boss of JD.com, says they’re rolling out a global licensing campaign for some cross-border payment shenanigans. 🎉

This mic drop announcement went down in Beijing just as the US Senate passed the “GENIUS Act” (which, I guess, is an acronym, but also sounds like something Dr. Evil would name). The act sets up some new rules for stablecoins and probably guarantees at least four more cable news segments about “what is crypto, anyway?”

Liu was out here promising that JD.com’s new stablecoin would make global transactions faster and cheaper. Like, 10-second payments instead of waiting several days. (You hear that, SWIFT? You just got roasted by a guy who can ship a blender to nowhere faster than you can process a wire transfer.)

JD.com stablecoin plans to expand to retail

First, they’re aiming this at business customers—so your boss can pay you even quicker for those late-night Slack messages. But Liu hinted that, one day, you could buy your midnight snacks with JD stablecoin, too. Because who doesn’t want their potato chips and crypto in the same digital wallet?

Liu admitted this plan might blow up in their faces, but, hey, that’s business! Sometimes you win, sometimes you spend months explaining to investors why their money is now a really interesting learning experience.

JD.com swears they’re not chasing every shiny trend now. No, no. The strategy: take their “seven or eight existing business models” (cool, apparently they’ve lost count?) and just make those international. It’s like if McDonald’s decided, “You know what? No more new McFlurries. We’ll just sell Big Macs on every continent.” 🍔🌎

Then, because China doesn’t want to be left behind in the digital money stampede, the People’s Bank of China announced an international digital yuan center for Shanghai. The subtext? “Let’s make the world a little less dollar-y and a little more yuan-tastic.”

By the way, JD.com has been using China’s state-backed digital currency system to pay staff since 2021. Forget direct deposit—this is like Venmo, but your employer and the government are the same person. 🏦💸

Interest in stablecoins rises with new regulations

Meanwhile, everyone globally is suddenly obsessed with stablecoins, thanks to new regulations. The US Senate finally managed to pass the GENIUS Act after months of drama (insert lots of emotional B-roll and slow-mo gavel slams here). Democrats balked at first because, big shock, someone said “Trump” and “crypto” in the same sentence. But eventually, the bill sailed through, which means now the House gets to argue about it, too. Can’t wait for that reality show.

Circle’s CEO chimed in, saying we’re not at the “iPhone moment” for stablecoins just yet. (Translation: Most people still don’t know what a stablecoin is, including, probably, their own mom.) Maybe one day developers will get it and we’ll have programmable dollars zooming around the internet, instead of the usual spam emails from a Nigerian prince. 🤔📱

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2025-06-18 11:32