Alibaba Partners with JPMorgan to Launch Tokenized Payment System by December
Alibaba and JPMorgan are launching a tokenized payment system using tokenized deposits on JPMorgan's blockchain infrastructure by December 2025.Summary
Alibaba.com President Kuo Zhang announced a partnership with JPMorgan to launch a tokenized payment system by December 2025. This system will utilize tokenized deposits—digital versions of real bank money on a blockchain—to facilitate near-instantaneous cross-border transfers between buyers and suppliers, bypassing the multi-day delays and fees associated with traditional international banking.
Alibaba will leverage JPMorgan's blockchain infrastructure, JPMD, which is now available on the Ethereum-based Base network. This move is crucial for Alibaba's B2B platform, which handles significant global trade volume and faces major pain points with current payment settlement times. Furthermore, Alibaba plans to introduce AI-powered smart contracts called "Agentic Pay" to automate contract generation, settlement, and dispute handling.
The partnership strategically uses bank-issued tokenized deposits instead of stablecoins to ensure regulatory compliance, avoiding issues that affected other Chinese tech companies. This collaboration brings together Alibaba's vast trade network and JPMorgan's established blockchain technology, potentially setting a new standard for efficiency in global B2B e-commerce.
(Source：Brave New Coin)