WeChat, Alipay to Block Crypto Transactions on Payment Platforms
WeChat Pay and Alipay are scrambling to keep up with regulators after recent announcements regarding initial coin offerings and cryptocurrencies.
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Separately, U.S. officials are reportedly considering banning U.S. citizens from investing in Alibaba Group, an affiliate of Alipay's parent.
The move opens the exchange to peer-to-peer (P2P) crypto transactions from China.
In order to support the retail payment system, the central bank has to step up its own digital yuan.
Pakistan-based Telenor Microfinance Bank has launched a remittances service using blockchain tech from Alipay.
China appears to have achieved the crypto community's dream of a new internet of value, without blockchain. But there's more than meets than eye here.
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