Tokenized
Big Tech Goes Stablecoin: Amazon, Alipay and Grab Unveil Plans
Dec 2, 2024
Ollie Harris, former MD at Goldman Sachs, and Maria Orszag, VP of product at Xapo Bank, dive into the transformative world of stablecoins and digital payments. They discuss Amazon's foray into tokenized seller payments and its potential to revolutionize cash flow for sellers. The conversation shifts to Alipay's partnership with Grab for enhanced cross-border payments, showcasing the efficiency of stablecoins. They also explore Tether's new Hadron platform for asset tokenization, emphasizing its implications for businesses and the future of finance.
42:09
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Quick takeaways
- Amazon's pilot project for tokenizing seller receivables with stablecoins aims to expedite payments, addressing previous delays of up to 90 days.
- The partnership between Straits X, Alipay Plus, and Grab enhances cross-border settlements through stablecoins, enabling instant payments for tourists in Singapore.
Deep dives
The Evolution of Closed-Loop Wallets
Closed-loop traditional fiat wallets have achieved significant success in various global markets, with platforms like Oli Pay and WeChat leading the way. Though these wallets have gained traction through peer-to-peer transactions and consumer acceptance networks, they lack robust connectivity with each other. This disconnect has hindered the creation of a global wallet network that would facilitate real-time value transfer across different closed-loop systems. A key challenge for the next five years will be figuring out how to transition these wallets into a more open-loop system, allowing for better interoperability.
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