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DP World unveils multi-currency stablecoin
DP World, a leader in logistics and trade, announced in Davos on Thursday23 Jan ‘25 the introduction of a multi-currency stablecoin for global trade transactions, marking a significant step toward enhancing the efficiency and transparency of cross-border payments.
Dr.G.R.Balakrishnan Jan 27 2025 Exim & Trade News

DP World unveils multi-currency stablecoin

By leveraging stablecoin technology, DP World seeks to provide accessible, instant, and transparent payment solutions that will simplify and accelerate international transactions. This move is expected to empower businesses in emerging economies to thrive in an increasingly interconnected marketplace, the company said.

Sultan Ahmed bin Sulayem, DP World Group chairman & CEO, said by introducing stablecoin-based payment options, the company is not just addressing a critical gap in the trade ecosystem but also reaffirming its commitment to innovation and leadership in global commerce. This initiative aligns with our broader mission to enhance trade flows and foster economic development in regions that need it most."

According to him, the initiative would help tackle inefficiencies in international trade, particularly for customers in emerging markets like Asia and Africa, who have long faced challenges such as prolonged settlement times, limited access to finance, and a lack of transparency.

DP World’s stablecoin initiative, announced in Davos, promises several key benefits including reduced Costs and settlement times: Traditional correspondent banking systems often require multiple intermediaries, resulting in settlement times that can stretch from days to weeks. For instance, a textile manufacturer in Ethiopia exporting raw cotton to a fabric producer in India frequently faces significant payment delays. DP World’s solution aims to drastically reduce these times, improving cash flow for both parties.

By facilitating timely cross-border payments, the stablecoin will enhance financial accessibility for businesses of all sizes. This is particularly crucial for suppliers in emerging markets who struggle with cash flow, limiting their ability to scale operations or meet growing demand, DP World said. The initiative will ensure increased transparency. The lack of real-time tracking in traditional payment systems often leaves businesses uncertain about transaction statuses. DP World’s initiative aims to enhance transparency and trust in international trade transactions, allowing businesses to manage their operations more effectively.

The vision for this innovative payment solution was unveiled at the World Economic Forum in Davos, where DP World is collaborating with industry leaders, policymakers, and technology innovators to build a more resilient global trading system…The decision to introduce a multi-currency stablecoin stems from extensive discussions with global stakeholders. DP World identified cross-border payment inefficiencies as a critical gap in the trade ecosystem. By engaging with top financial institutions and technology providers, they aim to develop innovative solutions that can effectively address these challenges.

Analysts said DP World is committed to adhering to all regulatory requirements in the markets it operates. This ensures that the new payment system will be compliant and secure, fostering trust and reliability among users.

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