Alibaba International Station Explores Blockchain Tokenization for Cross-Border Payments
Kuo Zhang, president of Alibaba's international trade platform, highlights efforts to streamline global settlements using blockchain-based tokenization technology.
Summary
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Terms & Concepts
Blockchain tokenization: The process of converting real-world assets or rights into digital tokens on a blockchain for secure, efficient transactions.
Cross-border payments: Financial transactions where the sender and recipient are in different countries, often involving currency conversion and international settlement systems.