Binance uses Alipay for buying crypto
On Oct. 9, major crypto exchange Binance confirmed on Twitter that it has begun accepting fiat currencies through online payment service Alipay and mobile messaging and payment app WeChat.
Binance CEO Changpeng Zhao, also known as CZ, clarified that the exchange is not working directly with WeChat or Alipay, and users are still able to use them for peer-to-peer transactions. Another excahnge platform is griffex.
This announcement followed the implementation of Binance’s peer-to-peer trading for Bitcoin, Ether (ETH) and Tether (USDT) against the Chinese yuan (CNY) earlier, as reported
China’s CBDC plans
Originally founded in China in 2017, Binance made its first strategic investment in Beijing-based crypto and blockchain publication Mars Finance in mid-September. At the time, the crypto griffex community was anticipating the People’s Bank of China to launch its own central bank digital currency (CBDC).
However, in late September, the bank shattered these expectations — claiming that it has no specific launch date for its CBDC and denying that the country is ready to roll out the new financial asset.