E‑Commerce Meets Crypto: China’s Digital Marketplace Eyes Stablecoin For Faster Payments

JD.com is moving fast. The $90 billion Chinese e‑commerce giant unveiled a plan this week to cut cross‑border payment times from days to seconds. Shares ticked up to $33.90 at the open before slipping back to $33.45 by the close.

JD Launches Blockchain Payment Pilot

According to JD’s chairman Liu Qiangdong, the first step involves a pilot in Hong Kong’s stablecoin sandbox. His team at Jingdong Coinlink Technology wants to show that typical B2B payments, which now take two to four days and carry hefty fees, can settle in under 10 seconds.

They’re using Zhizhen Chain, the same blockchain network that already moves about $7 billion a year in supply‑chain finance.

JD com Chairman Richard Liu said the company plans to apply for stablecoin licenses globally to reduce cross-border payment costs by 90% and cut settlement time to under 10 seconds. After B2B, JD aims to expand stablecoin payments to consumers worldwide. JD is one of the largest…

— Wu Blockchain (@WuBlockchain) June 17, 2025

Speed And Cost Benefits Highlighted

Based on reports from JD.com, fees could fall by as much as 90%. For many exporters and wholesalers, slashing costs and waiting times could free up cash flow and cut paperwork.

Companies that once dealt with multiple banks and clearinghouses would trade directly with buyers using stablecoins pegged to local currencies. That shift could save millions in bank charges every year.

JD isn’t stopping at business deals. The plan is to tie stablecoins into its e‑commerce checkout experience for nearly 600 million active users. With warehouses and delivery routes in 20 countries, JD could let shoppers pay in digital tokens anywhere the company ships.

Analysts say JD.com may even nudge its vast network of merchants to accept Jingdong’s own stablecoin, helping people switch from cash and cards to a faster digital option.

Hong Kong’s Stablecoin Ordinance, set to roll out in full by August 2025, gives players like JD and Ant Group a clear path to approval. Still, moving money across borders means jumping through legal hoops in multiple jurisdictions.

Based on industry chatter, Ant’s Alipay arm is lining up for licenses in Singapore and Luxembourg at the same time. Western firms such as PayPal and MasterCard already have token‑based systems under test. JD will need solid compliance and local partners to keep pace.

Market watchers estimate the global stablecoin market at roughly $250 billion this year, with growth to nearly $1 trillion by 2030. That surge is driving banks and tech firms to rethink payments.

JD.com’s bet is that its existing blockchain, tied directly into retail and finance, gives it an edge. It’s a big bet, but if the pilot proves out, waiting days and paying steep fees could become a thing of the past for companies and consumers alike.

Featured image from South China Morning Post, chart from TradingView