Alibaba's overseas B2B division pushes tokenized payments with J.P. Morgan…also strengthens AI-based services

Alibaba's overseas business-to-business (B2B) e-commerce division is reportedly pursuing the introduction of AI-based subscription services and a tokenized payment system.

On the 14th (local time), U.S. financial outlet CNBC reported that Zhang Yong, Alibaba's chairman, said, "We are pursuing a plan to convert payment and settlement processes into token form to improve cross-border payment efficiency," adding, "We are cooperating with J.P. Morgan in this process." J.P. Morgan already operates blockchain-based payment and settlement technology internally.

Alibaba.com expects that if tokenized payments are introduced, they will reduce delays caused by regulatory differences and complex procedures across countries, and increase the transparency and speed of transactions.

The company also unveiled a new AI feature that automatically connects suppliers and buyers. Alibaba explained, "AI will support product search, supplier matching, and automation of consultations, helping small and medium-sized enterprises expand overseas."