Richard Liu, the founder of China-based e-commerce platform JD.com, has announced the company’s plan to apply for stablecoin licences worldwide. He stated that the focus is on major sovereign currency countries and international markets.
JD Eyes Stablecoin For Reduced Cross-border Payment Costs and Speed
The leading Chinese e-commerce and tech giant is keen on improving global business-to-business transfers in its jurisdiction. Hence, the plan is to apply for these stablecoin licences. Liu is optimistic that such legal approvals will enable the company to enjoy a 90% reduction in cross-border payment costs and a transaction process that runs in just 10 seconds.
If this were to happen, it would mark a significant pivot from the current expenses and delays experienced with the SWIFT system. The e-commerce pioneer is looking forward to a time when a JD coin would facilitate seamless international transactions globally.
The recent development further underscores sentiments t
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