Business, Freight News, Logistics


DP World system aims to slash payment delays

[ January 24, 2025   //   ]

DP World is offering traders cross-border payment solutions based on ‘Stablecoins’, a type of cryptocurrency whose value is pegged to another asset, such as a fiat currency or gold, to maintain a stable price. They provide an alternative to highly volatile popular cryptocurrencies. The Dubai-based ports and operator aims to simplify and accelerate international transactions.
DP World says the system offers drastically reduced settlement cost and times for cross-border payments while improving transparency and trust. International traders, especially those in less developed countries, often face delays in receiving payments due to traditional correspondent banking systems requiring multiple intermediaries, resulting in settlement times that can extend to several days or even weeks.
As a result, firms struggle with cash flow, while recipients of goods may face uncertainty about whether shipments will be dispatched on time.
DP World Group chairman and chief executive, Sultan Ahmed bin Sulayem, said: “By introducing stablecoin-based payment options, we are not just addressing a critical gap in the trade ecosystem but also reaffirming our commitment to innovation and leadership in global commerce. This initiative aligns with DP World’s broader mission to enhance trade flows and economic development in regions that need it most. We believe this initiative will redefine the way businesses engage in cross-border trade, particularly in regions where financial barriers have limited potential. DP World is committed to creating a more inclusive and efficient trade ecosystem.”

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