On June 17, Liu Qiangdong, Chairman of the Board of JD Group, revealed at an internal sharing session that JD plans to apply for stablecoin licenses in major currency countries around the world to enhance the efficiency of cross-border remittances between enterprises and reduce costs. He stated it very plainly: currently, cross-border remittances for enterprises take two to three days and are not inexpensive; if stablecoins are used to address this, the remittance efficiency can be shortened to 10 seconds, and costs are expected to drop by 90%. This is not a fantasy at the level of 'virtual currencies', but a signal that a large technology enterprise is directly engaging in the 'stablecoin + cross-border settlement' scenario, which is worth serious attention from everyone involved in B-end trade, cross-border payments, and Web3 Compliance architecture.

02 Event Itself | What Does JD Want to Do? It is very clear that according to the on-site sharing content, Liu mentioned several key points: Clear objectives: JD will apply for stablecoin licenses in major currency countries around the world; Clear application scenarios: The first phase will be used for settlements and exchanges between global enterprises (B-end); Practical technical vision: The goal is to transform the existing traditional cross-border payment system, which takes '2-4 days and has high costs', into a system where funds arrive in 10 seconds at a cost of only one-tenth of the original; Medium to long-term layout: After completing the B-end stablecoin system, JD plans to gradually penetrate into C-end user (individual consumers) scenarios to build a globally circulating 'JD stablecoin'. In summary: It is not about issuing coins for financing, but about issuing coins for payments.
03Core analysis|These three points are worth paying attention to1The core of this matter is not "Jingdong wants to issue coins", but "Jingdong wants to hold a license" Compared with the practice of "issuing first and then supplementing" for many projects, the first sentence of Liu's opening is "applying for a license" - this shows that JD's internal logic in the direction of digital assets is supervision first and compliance first. And "the world's major currency countries", which means that this structure may also be oriented to: the United States (federal/state level VASP + stablecoin bill); Hong Kong (stablecoin issuer regime under legislation); Singapore (with a payment licence mechanism in place); Europe (EMT/E-money tokens under the MiCA framework); Markets such as the UAE and the UK that have allowed stablecoin pilots. This will be a complex cross-border compliance portfolio structure with high synergistic value, which can be used as a reference paradigm for many platform enterprises. 2B-end payment is the entry point, which may run through the compliance design of stablecoins before the C-sideIn the compliance design of stablecoins, B-end payment for enterprises has always been considered to be the direction with the highest compatibility of "compliance + business model": large exchange amount and stable frequency; High sensitivity to efficiency and cost; On the contrary, users (enterprises) are more likely to accept the settlement logic of stablecoin custody accounts. If JD takes the enterprise-level cross-border settlement route based on "settlement currency + custodian account + docking fiat currency clearing", it is completely feasible. 3. This is an important signal for Chinese-funded enterprises going overseas, and stablecoins used to be mostly led by U.S. projects and mainly used on the C-end, but the participation of companies like JD.com represents that enterprises with Chinese backgrounds have begun to actively participate in the construction of the global digital asset payment system in a compliant manner. For other overseas teams and platform companies, this means: (1) they can talk about stablecoin payments, especially in B2B scenarios; (2) You can refer to the direction of JD to build a stablecoin + settlement path + compliance structure; (3) In the future, when docking with the Hong Kong/Singapore VASP structure, it is expected to form an industrial path of "the platform side makes the currency and the merchant side settles".
04 Summary of Opinions｜Now is the time for Compliance to enter B-end payment. We recommend: ✅ For Chinese enterprises with cross-border business, now is a window period to consider the design of compliance holding coins and settlement structures; ✅ Stablecoin + overseas licenses + B-end exchange is a path that can be taken, is worth taking; ✅ Project parties and platform parties should pay attention to the regulatory differences in stablecoin issuance and usage in various countries and assess legal feasibility as early as possible.