Merchants Can’t Refuse Digital Yuan Payments, DCEP Operational Guide Shows

Dec 28, 2020

Unlike for other mobile payment services in China, Chinese merchants participating in the digital currency electronic payment (DC/EP) project cannot refuse payments in digital yuan (or e-yuan) when made to them. This is according to an “operational guidance” document reportedly made ava...

It Will Take At Least 10 Years For Digital RMB To Compete With WeChat Pay, Alipay And Bank Cards

Dec 4, 2020

China is working towards achieving an indigenous digital currency that is backed and controlled by the state. The Chinese government’s activities so far towards achieving this goal has earned it a leadership role among the several nations that are pursuing similar objectives. As a matter of fac...

China’s Alibaba Holds the Largest Number of Blockchain Patents in the World

Jul 2, 2020

With new cases of blockchain use emerging almost every day around the world, we are yet to see how blockchain technology will be changing our daily life. While large corporations have been stepping efforts to build their blockchain IP portfolios. Among them, China’s e-commerce giant Aliba...

Payment Giant Alipay Undertakes Crucial Work for China’s CBDC

Mar 24, 2020

Chinese payment giant Alipay has published 5 patents related to CBDC (central bank digital currency) from February 21 to March 17. Alipay, a third-party payment company, will undertake four crucial functions of China’s CBDC. Assuming the function of delivery and transaction bookke...

Binance Dips its Toes Back into China by Testing Alipay

Oct 12, 2019

Binance’s Changpeng Zhao publicly confirmed on Twitter that  the exchange accepts fiat through Alipay and WeChat , and stressed it in an official statement. This is obviously too careless for Zhao to announce the issue that triggered Alipay’s ban on all crypto-related transactions. ...

China’s Interest in Facebook’s Libra Spikes on Hearing Libra Will Compete with Alipay, WeChat

Jul 19, 2019

China’s interest in Facebook’s Libra immediately spiked in response to the company’s intention to compete in its payment solution with Chinese payment giants Alipay and WeChat Pay during the hearing on Libra with the Financial Services Committee of the United States House of Repre...

Alipay Empowers Pakistan’s First Blockchain Remittances

Jan 10, 2019

Ant Financial (formerly known as Alipay), the payment affiliate of Chinese e-commerce giant Alibaba, has updated its cross-border remittance processes. On Jan 8, Tariq Bajwa, governor of State Bank of Pakistan announced the launch of the country’s first blockchain-based international...

CTO of Ant Financial Cheng Li Discloses Company’s Technological Strategy “BASIC” for the Future

Oct 12, 2017

Cheng Li, CTO of Ant Financial offered a public enunciation of the company’s technological strategy “BASIC” for the first time at the Computing Conference 2017 on October 11. The acronym BASIC represents for Blockchain, Artificial Intelligence, Security, Internet ...

Jack Ma’s Ant Financial looks to take world to China with blockchain

Feb 13, 2017

At a time when a new report deemed blockchain as likely to reinforce a structure for cash securities in large and complex but mostly domestic markets such as Japan and China, the parent company of China’s largest online payment service, Jack Ma's Ant Financial, has expressed interest in exp...

Alipay’s first blockchain-based charity project with CRCF

Jan 5, 2017

Alipay closed its’ first blockchain-based charity project with China Red Cross Foundation (CRCF) to aid aplastic anemia children in China. The funding was initiated on 11th Dec and finished on 27th Dec, raising 180,000.56 RMB (~26,000 USD) from 37,968 donors. The money wil...