Chinese e-commerce giants are stepping into the stablecoin region, revealing plans for a global licensing push with founder Liu Qiangdong, which is aimed at paying across the border.
Announcement, Made up During a media briefing in Beijing on Tuesday, after the passage of American Senate Establishment of National Innovation for Guiding and US StabecrimsOr the Genius Act, a historical bill that establishes the federal railing for stabechoin.
“We expect to apply for our stabechoin license in all major sovereign currency countries of the world,” Liu said. They said that Stablecoin will be used To enable fast, cheap global transactions.
“We can reduce the payment cost by 90% and distribute within 10 seconds,” he claimed, contrast with two-four-day disposal window of the traditional Swift system.
Connected: Malaysia launched a digital asset hub to test stabechoin, programmable money
JD.com Stablecoin plans to expand the retail area
Initially, targeting the trade-by-business (B2B) transactions, JD’s stabechoin plans can eventually expand to consumer payment. “After the B-Side payment is completed, we can move towards C-Side Payment,” Liu said, pointing to widespread retail ambitions.
Liu mentioned that his ambitious project could face challenges and even fail, but said “how the business works.”
The move shows the push of JD.com to go to the global while sticking to its supply chain-centric business model. “We are no longer going to do new models,” Liu said. “But we will deepen and strengthen the current seven or eight business models (…) and make them international business.”
On Wednesday, People’s Bank of China Governor Pan Gongsheng Announced There is a plan to set up an international digital yuan operation center in Shanghai as the country accelerates efforts to internationalize digital yuan and reduce global dependence on US dollars.
In 2021, JD.com started Using China’s Digital Currency Electronic Payment (DCEP) Employee salary, B2B payment and system to pay cross-bank settlements.
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Interest in stablecoins increases with new rules
JD.com’s push in the StableCoin region comes amidst increasing interest in stabelin infrastructure globally with new regulatory reforms.
On Tuesday, Senate Passed talented actBill Initially a clot vote failed In response to a Democratic protest to US President Donald Trump’s cryptocurrency industry in May in May.
However, last week, 68-30 votes, Senate Voted to invite clots for billTo debate and install it for a full floor vote. Nevertheless, the bill may still withstand obstacles in the Republican-Action House.
Last week, StableCoin issuer Circle CEO Jeremy Allair Suggested that StableCoin success moment Is not far away. “We are not yet in the moment of the iPhone when developers realize the power and opportunity of digital dollars on the Internet everywhere, similarly they saw the unlock of programmable mobile devices,” said Allair.
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