Alibaba to Use JPMorgan’s Blockchain for Tokenized Dollar and Euro Payments: CNBC

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 ...