Amazon collaborates with StraitsX and NTT Digital to simulate the use of stablecoins to settle tokenized seller receivables

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Cointime2024/11/10 03:11

By:Cointime

Amazon recently participated in a blockchain tokenization simulation in collaboration with stablecoin company StraitsX and NTT Digital. Typically, Amazon marketplace sellers receive payment every 14 days, but in some cases this may be extended to 90 days. The simulation involves tokenizing these accounts receivable and placing them on an exchange, where creditors can purchase them at a slight discount.

In the simulation, these sellers receive StraitsX XSGD stablecoins packaged as Purpose Bound Money (PBM). Packaging can include conditions for the use of funds or simply ensure compliance with regulations such as KYC.

It should be noted that this is purely a simulation and not a solution planned by Amazon.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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