JD.com enters the Stablecoin race in our midst
The Chinese e -commerce giant JD.com enters Stablecoin Square, where the founder Liu Qiangdong revealed global licensing plans aimed at border payments.
Advertising, to make During a media briefing in Beijing on Tuesday, the US Senate acknowledged the direction and creation of the national innovation of US Stablecoin, or the genius law, a historical bill that creates federal handrails in favor of Stablecoins.
“We hope to apply for a stablecoin license in all the world’s main currency countries,” said Liu. He explained that Stablecoin will be used to enable global transactions faster and cheaper.
“We can reduce 90 % payment costs and deliver within 10 seconds,” he claimed, on the contrary, with the traditional Swift System to four to four days.
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JD.com Stablecoin plans to expand retail
Initially, B2B Business Transactions (B2B) targeted, JD plans to finally extend to consumer payments. “After completing the B-SIDE payment, we can move towards the C-SIDE payment,” Liu pointed out, which hints of the wider retail sales aspirations.
Liu mentioned that their ambitious project may face challenges and even failure, but he said that “how business works.”
JD.com is pushing to go to Global while sticking to the business model that focuses on the supply chain. “We will not do new models anymore,” Liu said. “But we will deepen and take off the seven or eight parties of the current business […] And made them international companies. “
On Wednesday, the Governor of the Popular Bank of China Ban Gongsheng Declare It plans to create an international center for Yuan Digital Operations in Shanghai, where the country has accelerated efforts to write the digital yuan and reduce global dependence on the US dollar.
In 2021, JD.com began using the DCEP electronic payment system in China to pay employee salaries, B2B payments and crosses.
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The interest in Stablecoins rises with new regulations
Pusing JD.com comes to the Stablecoin sector amid a growing interest in Stablecoin in the world, with new regulatory reforms.
On Tuesday, the Senate passed the Genius Act. The draft law initially failed to vote in the Senate in May in response to the democratic opposition of US President Donald Trump in the coded currency industry.
However, last week, in 68-30 votes, the Senate voted to summon the stroke to the draft law, and set it up for full debate and vote.
The draft law may still face obstacles in the Republican House of Representatives.
Last week, the CEO of StableCoin Scirw Circle suggested that the moment of penetration of Stablecoin is not far away. “We are not yet at the moment of iPhone when developers realize everywhere the strength and opportunity of diaphragmatic dollars on the Internet in the same way that they have seen the opening of programming mobile devices.”
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