Ant Financial, the operator of Alipay, is expanding its mobile payments platform into the United States market, following limited trials in California and New York.
Alipay, China’s largest payment platform, displayed new advertisements promoting spot Bitcoin ETFs with a minimum investment of 10 yuan ($1.40).
According to Avalanche, users can obtain the vouchers from one of its partners in Southeast Asia by playing branded mini games.
ZAN is powered by technical innovations from AntChain Open Labs.
In this article, you can read about the top 10 payment companies in Asia.
Though backed by the government, the e-CNY still has a long way to go in dominating the digital payment ecosystem in China.
Chinese regulators have a bitter history with Ant Group beginning with Jack Ma’s criticism of national watchdogs, a trend that angered President Xi Jinping.
In a statement, Ant Group said it would be involved in further trials and research surrounding the digital yuan.
The central banks of China, Hong Kong, Thailand and the UAE have also joined forces to create their own digital currency initiative.
While China has not yet announced when it wants to officially launch the e-CNY nationwide, it is set to continue the pilot tests during the 2022 Beijing Winter Olympics.
China’s central bank is proposing global rules to synchronize the use of CBDCs worldwide and ensuring “a fair supply of digital currencies” for the greater financial stability of the international monetary system.
With the Chinese New Year holiday around the corner, Douyin Pay appears primed to enjoy patronage during this period.
This is a big development as the Chinese central bank is looking ahead to push the use of Digital Yuan on the popular online platforms in the country. This will be one of the major giveaways to nearly 100,000 customers.
Despite the fact that the news is not confirmed, casino operators have recorded losses in reaction to the rumors.
China is scheduled for another test trial for its digital currency. The country had previously offered millions of digital yuan in a lottery during its biggest public test.
The pandemic presented the need for an alternative, convenient, and safe payment system that will limit the use of cash which can further help spread the virus. And CBDCs can be a solution.