Kuo Zhang, president of Alibaba.com, told CNBC the initiative aims to simplify cross‑border settlement by using tokenized fiat for faster, more uniform payments across its global platform. The division also unveiled Agentic Pay, an AI‑driven payment rail that the company says will automate settlement steps and dispute resolution through smart contracts, though Alibaba did not provide a firm launch date beyond ambitions to move quickly toward deployment.

The plan targets use of tokenized USD and EUR initially and seeks to leverage JPMorgan’s existing tokenization stack to enable on‑platform, stablecoin‑like settlement for importers, exporters and manufacturers that rely on Alibaba’s $35 billion commerce network; company executives framed the system as a settlement tool backed by deposits rather than a public stablecoin, and details on regulatory approvals and partner banks beyond JPMorgan were not disclosed.

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What did Alibaba announce on Nov. 14, 2025? — Alibaba.com said it will add AI subscription services and build a tokenized, stablecoin‑like payment system using JPMorgan’s tokenization tech.
How will tokenization be used for cross‑border payments? — The system will use tokenized fiat (USD and EUR initially) and AI smart contracts to streamline B2B settlement across Alibaba’s global platform.
Is this a public stablecoin? — Alibaba described the network as stablecoin‑like for settlement backed by deposits, not as an open public stablecoin.
When will the payment system launch and who’s involved? — Alibaba aims to move quickly toward deployment and is working with JPMorgan’s tokenization technology, but gave no definitive launch date or full list of partners.

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