Chinese payments platform Alipay has revealed more details of its role in China’s upcoming CBDC ecosystem through a series of patents released over the past mon...
Alipay is one of the largest global payment systems that belongs to the Alibaba Group. Alipay was founded in 2004. The payment system is used not only for processing payment for Alibaba Group goods, but over 460,000 other companies use Alipay as well. In 2015, the company announced the initial public offering of Alipay stocks, which will be available only for Chinese citizens. In 2017, the company announced the launching of Alipay in the U.S. In 2018, Alipay started to conduct experiments using blockchain technologies to provide payment processing. The first experimental blockchain-based payment was processed between Hong Kong and the Philippines. The transaction took just three seconds, so the company is currently planning to use the technology on a global scale.
- Russia Postpones Its Crypto Law Again, Now Blaming Coronavirus
- BCH, BSV Block Halvings Will Force Miners to Bitcoin (BTC) — Report
- ‘Prime Brokerage’ for Crypto: Apifiny Launches Institutional Platform to Connect Exchange Liquidity
- Bitfury Becomes Latest Crypto Industry Player to Join COVID-19 Research Project
- SEC Claims Telegram Injunction Applies to ‘Any Person or Entity’