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Ripple experienced a sharp decline over the past week, decreasing from around $17 bln to $8 bln. At one point, Ripple’s market cap accounted for nearly 30% of Alipay’s market cap.
China’s Alibaba and its $60 bln financial arm Alipay are recruiting Blockchain experts to actively look into the potential of Blockchain technology.
Similar to some regulators like the state of New York, Hawaii has decided to take a difficult and reckless approach in regulating bitcoin users and startups.
While on the global scale fintech is growing rather rapidly, the industry is absolutely booming in Asia, and particularly in China.
The volume of electronic payments surpassed cash transactions in 2016, beating fiat for the first time in history. Bitcoin could overtake credit and debit card payments within the next decade.
Alipay, the US$60 billion financial application developed by Alibaba subsidiary Ant Financial, is planning to implement blockchain technology for the long-term benefit of its consumers.
Chinese consumers are rapidly moving towards non-bank and cashless alternatives, such as Alibaba’s $60 bln financial application Alipay.
American multinational technology company, Apple, is set to launch its mobile payment network, Apple Pay, in China on February 18, 2016.
Stripe, arguably one of the fastest growing fintech startup that allows users to accept payments through several different payment service providers has recently announced its support for Alipay, China’s largest payment processor.
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