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DP World is collaborating with leading financial institutions and technology providers to tackle inefficiencies in cross-border payment systems that have long hindered global commerce.
The company aims to address critical challenges faced by customers in emerging markets, particularly in Asia and Africa, where businesses often struggle with slow settlement times, limited access to finance, and a lack of payment transparency.
This transformative payment solution was officially launched at the World Economic Forum in Davos, where DP World is engaging with industry leaders, policymakers, and technology innovators to build a more resilient and efficient global trading system. The solution is part of DP World’s broader strategy to offer end-to-end solutions for its customers and facilitate seamless global trade.
By partnering with firms from Singapore, India, the UAE, and other key regions, DP World plans to introduce stablecoin-based payment solutions that offer businesses faster, more transparent, and cost-effective international transactions.
The initiative is designed to simplify and accelerate cross-border payments, ultimately helping businesses in emerging economies navigate the complexities of global trade and unlock new growth opportunities.
DP World group chairman and CEO, Sultan Ahmed bin Sulayem, emphasised the importance of the initiative, stating, “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 of DP World’s new initiative
The new payment system is designed to drastically reduce settlement costs and times for cross-border transactions. For example, a textile manufacturer in Ethiopia that exports raw cotton to an Indian fabric producer currently faces significant delays in receiving payments due to the traditional correspondent banking systems, which require multiple intermediaries.
This process often leads to settlement times extending over several days, or even weeks. By adopting stablecoin-based payments, DP World aims to streamline this process, reducing both the time and cost associated with cross-border transactions.
The initiative also seeks to improve financial accessibility for businesses of all sizes. In the Ethiopian example, the textile supplier faces cash flow constraints that limit its ability to scale operations or meet new orders. Similarly, the Indian fabric producer is often unsure whether shipments will be dispatched on time due to payment delays. The stablecoin solution will provide more predictable, real-time transactions that can help both businesses plan and manage their operations more efficiently.
Additionally, the stablecoin-based payment system promises enhanced transparency and trust in international trade transactions. Currently, the lack of real-time tracking for cross-border payments leaves parties uncertain about when a transaction will be completed.
DP World’s new solution aims to bring more visibility to payment processes, boosting confidence between trading partners.
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