- Alibaba is set to launch a new subscription service powered by generative AI and is simultaneously planning a tokenisation-based payment system in partnership with JPMorgan
- On the payments side, Alibaba and JPMorgan are creating a system that uses deposit tokens (bank-backed digital money), rather than traditional stablecoins or non-bank crypto tokens
- Alibaba calls this upcoming service “Agentic Pay” and hopes to launch it in December
Alibaba’s B2B platform, Alibaba.com, is set to launch a new subscription service powered by generative AI, while simultaneously planning a tokenisation-based payment system in partnership with JPMorgan.
The subscription service will cost around US $20 per month or $99 a year (the pricing is not yet final) and is designed to help buyers automate supplier search, logistics, and compliance via Alibaba’s Accio engine.
On the payments side, Alibaba and JPMorgan are creating a system that uses deposit tokens (bank-backed digital money), rather than traditional stablecoins or non-bank crypto tokens. The arrangement will let buyers in the US or Europe pay using digital versions of their own currency, sending money across borders instantly without having to go through multiple banks.
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Alibaba calls this upcoming service “Agentic Pay” and hopes to launch it in December. It integrates AI contract generation with tokenized settlement, which aligns with China’s preference for digital money that is backed by banks rather than independent cryptocurrencies.
Earlier this year, Chinese tech firms like Ant Group and JD.com Inc. have advocated for offshore yuan-pegged stablecoins to support cross-border trade and yuan internationalization.
JPMorgan’s TradFi Answer to Stablecoins
JPMorgan is building its blockchain payments business under the Kinexys division (formerly Onyx). It recently partnered with DBS Bank (Singaporean multinational banking and financial services corporation) to develop a framework for cross-bank, cross-chain tokenized deposit transfers.
Its new deposit token, JPMD, is built to function on public chains, such as Base (Coinbase’s layer-2), rather than just on JPMorgan’s internal network. Each JPMD token is backed 1:1 by real bank deposits at JPMorgan, giving it regulatory backing and trust.
By running the technology behind Alibaba’s new digital payment system, JPMorgan is connecting its digital money platform to real-world global business. This move helps the bank use its tokenization technology in new areas beyond just banking, like international trade and business payments.
While Alibaba’s project isn’t directly about cryptocurrencies such as Bitcoin or Ethereum, its focus on creating tokenized money and new ways to send it across borders supports the general move toward digital finance. In the long run, this could make more people interested overall in digital assets.
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