Alipay Reaffirms That Making Payments for Crypto-Related Transactions Is Prohibited

Siamak Masnavi

On Thursday (October 10), Chinese payment platform Alipay, reaffirmed its negative stance on the use of its payment service for crypto-related transactions.

Alipay, which is a leader in mobile and online payments, was established in China in 2004 by Alibaba Group, and currently has over a billion users. Like Apple Pay, WeChat Pay and PayPal, it "overlays traditional card payment methods."

On October 9, Binance announced the launch of a P2P crypto trading service, with support for trading BTC, ETH and USDT against CNY (Chinese Yuan), and said that this feature will initially be available only in China and it would be accessible via the Android version of the Binance mobile app.

Later, Binance CEO Changpeng Zhao (aka "CZ") confirmed on Twitter that users of the app could use Alipay or WeChat Pay to make fiat payments for these trades:

Now, however, it seems that Alipay has heard about this and wants its users in China to know that paying for crypto on its platform is still prohibited.

As the tweet below by Dovey Wan (a Founding Partner of Primitive Ventures) shows, the Alipay Security Center communicated this message earlier today (October 10) on Weibo:

Not to be outdone, just as we were about to publish this article, WeChat Pay made a similar announcement, as you can see from the following tweet by Wan:

 

Featured Image Courtesy of Alipay