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.
Chinese multinational tech group ByteDance is seeking a virtual banking license in Singapore as a means of entering digital finance.
Chinese Tech Group Behind TikTok Looks to Enter Finance
Crypto pundits believe that central bank digital currencies based on public-private partnerships could see the light of day much sooner, as many solutions under...
CBDCs With a Twist: The Public-Private Solutions Needed for Adoption
Ant Financial launched a new consortium blockchain platform for SMEs and developers.
Alibaba Subsidiary Ant Financial Launches New Consortium Blockchain Platform for SMEs
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 Patents Reveal More Details About China's Forthcoming CBDC
Alipay is seeking to lure 44 million merchants with mini programs to expand services for the firm’s 900 million users.
Payment Giant Alipay Steps Up Game to Expand Beyond Payments
Blockchain education firm Odem has offered free access to its platform to schools and universities facing disruptions as a result of the coronavirus.
Blockchain-Based Education Platform Offered to Schools Struck by Coronavirus
The new Coronavirus outbreak has pushed Chinese officials to track individual citizens by their medicine purchases, which presents major ramifications for crypt...
China Tracks Victims of Coronavirus with WeChat and Alipay