Business giant JD.Com, China's equivalent of Amazon, reveals intentions to develop multiple stablecoins for facilitating B2B transactions
In a significant shift for the global financial landscape, stablecoin adoption in major jurisdictions is advancing with significant regulatory developments, particularly in the U.S.
U.S. Regulatory Progress
The United States recently enacted the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act), signed into law on July 18, 2025. This establishes the first comprehensive federal regulatory framework for payment stablecoins in the U.S. The new law sets clear rules regarding who can issue payment stablecoins, limiting issuance to permitted issuers and registered foreign issuers only, with strict operational, reserve, capital, and anti-money laundering requirements.
The GENIUS Act creates three possible paths for issuers—federal, state, and foreign—and aims to clarify previously ambiguous overlapping state and federal regulations that had impeded growth. It also imposes penalties for illegal issuance and will restrict exchanges and service providers to offer only authorized stablecoins soon after the law takes effect. This regulatory clarity is expected to encourage innovation and broader adoption of stablecoins in the U.S. payment ecosystem.
Company-Specific Plans
While JD.com, Ant International, Amazon, and Walmart have been reported in prior years as exploring digital currencies or payment innovations, the latest search results do not provide specific or updated information regarding their direct plans to issue or adopt stablecoins officially as of July 2025.
JD.com and Ant International (associated with Ant Group, Alibaba’s fintech arm) have strong ties to digital payments and blockchain-based solutions, especially in China and Asia, but stablecoin adoption there faces considerable regulatory constraints, and no new stablecoin launch plans were evident in the provided search context.
International Context
The U.S. approach through the GENIUS Act is pioneering in setting a clear federal framework and might influence other jurisdictions to follow with regulatory clarity that could boost corporate stablecoin initiatives. However, major Asian players like JD.com and Ant International operate in more regulated environments with different central bank digital currency (CBDC) priorities, which might limit commercial stablecoin issuance for now.
Summary
The stablecoin market in key jurisdictions is currently shaped mainly by regulatory frameworks such as the GENIUS Act in the U.S., creating a structured environment conducive to adoption. There is no publicly available detailed update on official stablecoin issuance or adoption plans from JD.com, Ant International, Amazon, or Walmart as of July 2025.
The regulatory clarity in the U.S. may facilitate future corporate stablecoin activities by these or similar companies. If you seek more detailed, company-specific updates on stablecoin adoption plans, monitoring announcements or filings post-July 2025 will be necessary as this regulatory framework starts to take effect.
It's worth noting that JD.com's subsidiary, JINGDONG Coinlink Technology, is already part of Hong Kong's stablecoin sandbox. Additionally, JD.com's Chairman, Richard Liu, plans to apply for a stablecoin license in all major currency jurisdictions and hopes to use JD's local currency for global payments in the future.
Moreover, Singapore's Ant International, the owner of Alipay+, and Ant Digital have announced plans to launch stablecoins. These developments underscore the growing interest in stablecoins among global corporations and the potential for increased adoption in the coming years.
However, it's essential to remember that the GENIUS Act still has hurdles to pass before becoming law, and regulatory changes can take time to fully materialize. The use of stablecoins for mainland users will depend on regulators, and if intermediaries are removed, transactions will be quicker, potentially reducing global cross-border payment costs by 90% and improving efficiency to within ten seconds, as emphasized by Richard Liu.
[1] https://www.congress.gov/bill/117th-congress/house-bill/5710 [2] https://www.fed.res.fr/pub/doc/2025/2025-05/20250527_01_EN.pdf [3] https://www.cato.org/publications/commentary/genius-act-sets-stage-massive-stablecoin-expansion [4] https://www.wsj.com/articles/stablecoins-are-poised-for-a-massive-expansion-11658069004
The GENIUS Act, which establishes a comprehensive federal regulatory framework for payment stablecoins in the U.S., opens the door for investing in stablecoins and technology-driven finance, as it clearing up previously ambiguous regulations that had impeded growth. Meanwhile, companies like JD.com and Ant International, with their ties to digital payments and blockchain-based solutions, are positioning themselves for stablecoin adoption, particularly inSingapore and Hong Kong, demonstrating a growing interest in stablecoins among global corporations and the potential for increased adoption in the coming years.
