The Impact of Cross-Border Payment Practices on Supply Chain Operational Efficiency-A Study on the Collaborative Mechanism of Stablecoins, Digital RMB, and Real-World Asset Tokenization (RWA)_Vol. 3 No. 4 (JTM 2026)_Journal of Economics and Law (ISSN: 3005-5768)

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The Impact of Cross-Border Payment Practices on Supply Chain Operational Efficiency-A Study on the Collaborative Mechanism of Stablecoins, Digital RMB, and Real-World Asset Tokenization (RWA)

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DOI: https://doi.org/10.62517/jel.202614405

Author(s)

Ziyun Chen

Affiliation(s)

Information Management and Information Systems, School of Management Science and Engineering, Tianjin University of Finance and Economics, Tianjin, China

Abstract

Currently, cross-border payment efficiency has long been constrained by the traditional SWIFT system. From a digital finance perspective, this study investigates the collaborative effects of stablecoins, digital renminbi (e-CNY), and real-world asset tokenization (RWA) in the operational efficiency of cross-border e-commerce supply chains. Using literature review, policy analysis, and case comparison methods, we systematically analyze the core mechanisms of these three tools in enhancing transaction efficiency, optimizing costs, adapting to scenarios, and facilitating regulatory coordination. Taking JD Group’s compliant practice as an empirical case, we construct a closed-loop model. The findings indicate: (1) stablecoins significantly reduce costs and settlement time for cross-border micro-payments; (2) digital RMB excels in compliance and wholesale trade scenarios; and (3) RWA, as a financing instrument, exhibits strong synergistic potential. While irreplaceable within a regulatory framework, the three tools can be orchestrated scenario-specifically, offering implications for policy formulation, enterprise upgrading, and RMB internationalization.

Keywords

Stablecoin; Cross-Border Payment; Supply Chain Operational Efficiency; Cross-Border E-Commerce

References

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