DP World is set to introduce its own cryptocurrency to help smooth cross-border transactions

The logistics company and terminal operator is working with financial institutions from Singapore, India, the UAE and other key markets to introduce instant and transparent payments powered by stablecoins, a type of cryptocurrency pegged to an asset such as gold.

The company cites benefits such as drastically reduced settlement cost and times for cross-border payments, improved financial access for even small businesses, and enhanced transparency and trust in international payments.