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.
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.