Regulation· ★★★· bearish·

Alipay denies supporting crypto trading through third-party platforms

  • —Alipay denies any crypto integration and calls third-party claims unauthorized
  • —Peer's beta USDC-for-yuan feature via Alipay logged 107 trades worth about $7,094 since Aug. 21
  • —Peer acknowledged it has no formal partnership with Alipay
  • —Alipay has blocked crypto activity and run monitoring systems since at least 2021
Why it matters: China maintains a strict crypto ban, and using Alipay as an on-ramp exposes users to account freezes and enforcement action.
#USDC
Source: Crypto Briefing
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