Alibaba and JPMorgan Test Stablecoins for Cross-Border Payments

Alibaba Group has entered into a collaboration with JPMorgan Chase to explore the potential of stablecoin-based payments in cross-border trade, aiming to streamline international transactions. The partnership will focus on deploying an AI-powered subscription service alongside a new payment solution leveraging stablecoin-like instruments, designed to reduce currency-related risks and shorten settlement periods for global trade.