Alipay denies supporting crypto trading following Peer beta integration announcement
Chinese payments giant Alipay stated that it does not support cryptocurrency trading or related services after peer-to-peer platform Peer announced beta support for buying and selling USDC using CNY payments through Alipay.
Chinese payments giant Alipay has denied supporting cryptocurrency trading or related services, according to reports by Wu Blockchain and The Block. The company described claims that it enables cryptocurrency purchases through third-party platforms as false and unauthorized, and it warned users to exercise caution to safeguard their funds and account safety.[1][3]
The denial follows an announcement by peer-to-peer trading protocol Peer, which launched a beta feature designed to allow users to trade the stablecoin USDC using Chinese yuan transfers on Alipay. According to an announcement post by Peer, users could buy USDC by paying sellers in CNY or sell USDC and receive payment in CNY on Alipay.[1][3]
Crypto Briefing also reported on Alipay's denial, noting that the firm's position highlights ongoing tension between fintech platforms and regulatory compliance.[2]
Key facts
- Alipay stated that it does not support cryptocurrency trading or related services.
- Alipay labelled claims that it enables crypto purchases through third-party platforms as false and unauthorized.
- Alipay advised users to exercise caution to protect their funds and account security.
- P2P protocol Peer announced beta support enabling users to buy and sell USDC via CNY transfers on Alipay.
Sources · 3 sources
- WB
Wu Blockchain@WuBlockchainPost on X ·
Chinese Payments Giant Alipay Denies Supporting Crypto Trading via Third-Party Platforms Chinese payments giant Alipay stated that it does not support cryptocurrency trading or related services, adding that claims suggesting Alipay enables crypto purchases through third-party platforms are false and unauthorized. The statement came after P2P trading platform Peer announced beta support for buying and selling USDC using CNY payments via Alipay. Alipay also warned users to exercise caution to protect their funds and account security.
Open source - CB
Crypto BriefingArticle ·
Alipay denies supporting crypto trading via third-party platforms Alipay's stance highlights the ongoing tension between fintech platforms and regulatory compliance, impacting user trust and market dynamics. The post Alipay denies supporting crypto trading via third-party platforms appeared first on Crypto Briefing .
Open source - TB
The Block@TheBlockCoPost on X ·
THE BLOCK: Alipay denied supporting crypto trading after the Peer protocol announced a beta integration designed to let users buy and sell USDC via CNY transfers on the app. The Chinese payments giant said claims that Alipay enables crypto purchases on third-party platforms are "false and unauthorized," and warned users to protect their funds and account safety.
Open source