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.
AgBank — the world's third-largest bank by assets — has indicated it will follow the PBoC’s cue and work to stamp out its clients’ crypto-related activities.
Banks fall in line as China’s central bank cracks down on crypto accounts
Chinese "crypto dad" and ex PBoC director Yao Qian insists digital yuan is not a surveillance tool for the government.
Digital yuan conceived to counter Alipay-like platforms, says former PBoC executive
Alibaba’s Alipay and Tencent’s WeChat Pay reportedly account for 98% of the mobile payment market in China.
China’s digital yuan is backup to AliPay and WeChat Pay, says official
The notion of China racing to launch a CBDC that will end U.S. monetary supremacy doesn't hold up if you look at the facts on the ground.
China’s CBDC is about domestic dominance, not beating the dollar
Lawmakers are prepping new tools to pursue tech firms accused of anti-competitive business practices.
Law Decoded: New dawn or bad moon rising for trust-busting in tech, Jan. 29–Feb. 5
A representative for the Jack Ma Foundation confirmed to reporters that the businessman had “participated in the online ceremony of the annual Rural Teacher ini...
Jack Ma resurfaces in new video after an almost 3-month ‘disappearance’
The platform is just the latest product in the fintech’s long-evolving blockchain solutions.
China’s Ant Group releases digital copyright platform on AntChain