DP World promotes stablecoin to ease cross-border payments
The shipping and logistics conglomerate is currently working with firms in Singapore, India and the UAE on the digital currency project
Containers are loaded onto a container ship at a DP World terminal in the U.K. Port of Southampton Getty Images)
DP World is touting stablecoin as an alternative form of payment for its cross-border shipping operations.
Sultan Ahmed bin Sulayem, the Dubai-based port operator’s Chairman and CEO, said that introducing the government-regulated digital payment method would address a critical gap in world trade and reaffirm the company’s commitment to innovation and leadership in global commerce.
The shipping and logistics conglomerate is currently working with firms from Singapore, India and the UAE on the crypto project, Bin Sulayem said in a statement released at the World Economic Forum in Davos.
DP World said stablecoins would provide accessible, instant and transparent means of completing international transactions.