DP World unveils multi-currency stablecoin for global trade
The initiative aims to accelerate global transactions for emerging markets
Davos: DP World, a global leader in logistics and trade, is collaborating with financial institutions and technology providers worldwide to tackle inefficiencies in cross-border payment systems.
Businesses in emerging markets, particularly in Asia and Africa, face challenges like slow settlement times, limited financial access, and lack of transparency—issues that have hindered global trade growth for years.
Through partnerships with leading firms in Singapore, India, the UAE, and other major markets, DP World aims to deliver accessible, instant, and transparent cross-border payment solutions powered by stablecoins.
This initiative will streamline and expedite international transactions, empowering businesses in emerging economies to thrive in a more interconnected global economy.
Sultan Ahmed bin Sulayem, DP World Group Chairman & CEO, said: "By introducing stablecoin-based payment options, we are addressing a crucial gap in the trade ecosystem and reaffirming our commitment to innovation in global commerce. This initiative aligns with DP World’s mission to enhance trade and economic growth, particularly in regions where financial barriers have limited potential. We believe it will redefine how businesses engage in cross-border trade, creating a more inclusive and efficient trade ecosystem."
Key benefits:
Reduced settlement costs and times for cross-border payments: For example, an Ethiopian textile manufacturer exporting raw cotton to an Indian fabric producer often faces delays due to traditional banking systems, which involve multiple intermediaries and extended settlement times. With stablecoin-based payments, these delays can be drastically reduced.
Improved financial accessibility for businesses: The Ethiopian supplier’s cash flow is often hindered by delayed payments, limiting growth potential. Similarly, the Indian fabric producer faces delays in production due to uncertainty about payment timelines. A stablecoin solution will provide quicker and more reliable payment processing for businesses of all sizes.
Enhanced transparency and trust: The lack of real-time transaction tracking often leaves both parties uncertain about payment status. Stablecoins will provide transparent, real-time tracking, fostering trust in international trade transactions.
This transformative payment solution was launched at the World Economic Forum in Davos, where DP World is engaging with industry leaders, policymakers, and technology innovators to shape a more resilient global trading system.
As part of DP World’s broader vision to offer end-to-end solutions for its customers and facilitate seamless global trade, this stablecoin-based payment system is set to be integrated into DP World’s expansive network across six continents, driving widespread adoption through extensive partnerships.
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