DP World to introduce accessible,instant and transparent cross-border payment solutions powered by stablecoins
DP World, a global leader in logistics and trade, is engaging with global financial institutions and technology providers to address a longstanding challenge in global commerce -- the inefficiencies in cross-border payment systems. Customers in emerging markets such as Asia and Africa often grapple with prolonged settlement times, restricted access to finance and a lack of transparency—factors that have hindered the growth of trade flows for years.
By collaborating with leading firms from Singapore, India, the UAE and other key markets, DP World aims to introduce accessible, instant and transparent cross-border payment solutions powered by stablecoins. The initiative is designed to simplify and accelerate international transactions, empowering businesses in emerging economies to thrive in an increasingly interconnected world.
DP World Group Chairman & CEO, Sultan Ahmed bin Sulayem, said: “By introducing stablecoin-based payment options, we are not just addressing a critical gap in the trade ecosystem but also reaffirming our commitment to innovation and leadership in global commerce. This initiative aligns with DP World’s broader mission to enhance trade flows and economic development in regions that need it most. We believe this initiative will redefine the way businesses engage in cross-border trade, particularly in regions where financial barriers have limited potential. DP World is committed to creating a more inclusive and efficient trade ecosystem.”
Key benefits
* Drastically reduced settlement cost and times for cross-border payments.
* Improved financial accessibility for businesses of all sizes.
* Enhanced transparency and trust in international trade transactions.
The vision for this transformative payment solution was launched at the World Economic Forum in Davos, where DP World engaged with industry leaders, policymakers and technology innovators to build a more resilient global trading system.
This solution is an integral part of DP World’s aspiration to offer end-to-end solutions for its customers and to facilitate seamless global trade. Leveraging its expansive network spanning six continents, DP World is uniquely positioned to integrate this innovative payment system into its current offerings and drive widespread adoption through its extensive partnerships, it highlighted in a release.
source: Exim News Service: Dubai, Jan. 27