Alibaba Explores Tokenized Payments With JPMorgan For B2B
Alibaba is testing JPMorgan's blockchain-based tokenized deposit system to streamline cross-border B2B transactions. The MOVE signals growing institutional adoption of distributed ledger technology for settlement efficiency.
The e-commerce giant confirms it's evaluating stablecoins as a potential future payment rail. This development follows broader industry trends where traditional finance embraces tokenization to bypass correspondent banking delays.
President Kuo Zhang revealed the pilot could slash transaction times from days to near-instantaneous processing. The system uses digital representations of fiat currencies like USD and EUR that move on permissioned blockchains.