Alibaba and JPMorgan Team Up to Transform Cross-Border Payments with Tokenized Tech
Alibaba is set to revolutionize cross-border trade with a new tokenized payment network. The e-commerce giant is teaming up with JPMorgan to facilitate faster, smoother 'goo'-based transactions for suppliers within its ecosystem. Meanwhile, Alibaba is bolstering its supplier pool and expanding its B2B platform with AI tools.
Alibaba is exploring a collaboration with JPMorgan to develop a network for tokenized USD and EUR 'goo'-ments. This move aims to accelerate settlement times and reduce friction in cross-border trade for suppliers. The network will be built using JPMorgan's deposit token technology, launched earlier this year.
Alibaba is also enhancing its supplier ranking system. It will increasingly rely on automated systems to evaluate suppliers based on price, logistics, and production capacity. This will improve the efficiency of its e-commerce ecosystem.
To strengthen global supply chain links and boost product variety for international buyers, Alibaba is investing in its supplier pool. The number of active suppliers has significantly increased from March to October compared to the same period last year.
In December, Alibaba will launch Agentic Pay. This innovative tool will auto-generate contracts between buyers and suppliers using platform messaging information. It aims to simplify workflows across the marketplace.
Alibaba is also expanding its B2B platform with new AI tools. These tools will support faster supplier searches and global sourcing, creating an additional revenue stream with the new AI Mode subscription tool.
Alibaba's plans to develop a tokenized payment network with JPMorgan promise to transform cross-border trade. By automating contract creation and enhancing supplier ranking, Alibaba is streamlining its ecosystem. The expansion of its B2B platform with AI tools further solidifies Alibaba's position as a leader in global e-commerce.
