.png)
2 hours ago
1
The technology aims to expedite transactions and eliminate intermediaries, enabling the direct transfer of digital currencies over a blockchain-based system.
Nov 15, 2025, 8:00 p.m.
Alibaba’s global business-to-business platform is moving to streamline cross-border payments by using tokenized versions of major currencies, part of a broader shift toward blockchain-based settlement in global commerce.
Kuo Zhang, president of Alibaba.com, told CNBC that the platform plans to begin using tokenized deposits backed by fiat currencies such as the U.S. dollar and euro. The technology, which it will build in partnership with JPMorgan, is designed to speed up transactions and reduce the number of intermediaries needed for international payments.
In today’s cross-border trade, a U.S. buyer sending dollars to a Chinese supplier may see funds routed through several banks and undergo multiple currency conversions, adding both time and cost. With tokenized currency, a digital version of that dollar could be transferred directly over a blockchain-based system, bypassing the intermediaries.
Alibaba.com will use JPMorgan’s blockchain-based JPMD infrastructure, a system designed to move tokenized deposits between institutional clients. Unlike stablecoins, which are typically issued by non-banks and backed by assets like treasuries, tokenized deposits sit on a regulated bank’s balance sheet.
Zhang said the company is also exploring the possibility of adopting stablecoins in the future, but will first focus on bank-issued digital tokens to ensure regulatory and operational clarity.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
More For You
Protocol Research: GoPlus Security
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Tether Eyes $1B Investment in German Robotics Startup Neura: FT
Neura aims to produce 5 million robots by 2030 and has already booked €1 billion in orders.
What to know:
- Tether is in talks to lead a €1 billion funding round for Neura Robotics, a German AI-powered robot startup, valuing the company at €8-10 billion.
- Neura aims to produce 5 million robots by 2030 and has already booked €1 billion in orders.
- The investment is part of Tether's expanding portfolio, and comes as interest in humanoid robots surges, with firms like Tesla, Nvidia, and SoftBank racing to apply AI to physical machines.
