* Alibaba plans to launch a tokenized global payment network by December.
* The system uses a stablecoin-like model and is being developed with JPMorgan’s tokenization technology.
* The network is designed to streamline cross-border B2B payments using tokenized fiat and AI-powered smart contracts.
Alibaba is preparing to overhaul the way cross-border payments move through its $35 billion e-commerce ecosystem, betting on tokenization as the next major leap in global settlement infrastructure.
During an interview with CNBC, Kuo Zhang, president of Alibaba.com, confirmed that the company is building a new payment network that uses tokenized fiat — essentially a stablecoin-like system — to simplify international B2B transactions.
The company aims to launch the system by the end of the year.
A Stablecoin-Like System for Cross-Border Trade
Alibaba’s proposal comes at a time when global e-commerce is increasingly fragmented and older payment rails are struggling to keep up.
Tokenization, a core blockchain concept that converts currencies or assets into transferable digital tokens, is being increasingly explored as a workaround.
“Users from different countries shouldn’t need different platforms just to move money,” Zhang said, outlining Alibaba’s objective to make global payments feel instantaneous and uniform.
Zhang said Alibaba is experimenting with tokenized USD and EUR, with ambitions to support additional currencies after launch.
While not described as a formal stablecoin, the system resembles one: tokenized fiat backed by real deposits, used purely for settlement.
Officials also revealed that AI-driven smart contracts will be integrated into the payment flow — automating steps such as settlement, dispute handling, or release of funds once conditions are met.
The company’s new B2B payment rail, Agentic Pay, will be rolled out alongside the tokenized system.
The combined solution targets importers, exporters, and manufacturers who struggle with costly, slow, and opaque cross-border payment workflows.
JPMorgan’s Tokenization Tech Behind the Upgrade
Alibaba shared that it will build its system using JPMorgan’s tokenization technology.
The collaboration links two major players in digital finance innovation:
