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[Alibaba Partners with JPMorgan to Launch Tokenized Payment System] On November 14, Alibaba's cross-border e-commerce platform (Alibaba.com) announced a partnership with JPMorgan to introduce a tokenized payment system, providing a faster cross-border settlement solution for global B2B operations. This collaboration is regarded as one of the first large-scale applications of blockchain technology in the field of international trade and was unveiled at the CoCreate Europe event in London. Alibaba stated that it will leverage JPMorgan's tokenized infrastructure to address issues such as the numerous intermediaries, high exchange costs, and lengthy settlement cycles in cross-border payments, enabling synchronized fund flows across jurisdictions while reducing delays and costs.