There're several reports about @Alipay being used for bitcoin transactions. To reiterate, Alipay closely monitors over-the-counter transactions to identify irregular behavior and ensure compliance with relevant regulations. [cont'd…]
— Alipay (@Alipay) October 10, 2019
Need Proof?
Dovey Wan (DoveyWan), of the crypto asset management company Primitive Ventures, tweeted an error message reportedly received from WeChat after the platform denied cryptocurrency purchases.Wan said the formal denial by Alipay and WeChat was triggered by the confirmation from Binance that it supports Alipay and WeChat, adding that it’s a common PR practice in China. Twitter user @truthurtm claimed that smaller exchanges in China have been hosting peer-to-peer (P2P) Bitcoin trading using Alipay and WeChat without any challenges. However, the account claimed that Binance’s status as the world’s leading cryptocurrency exchange forced Alipay to take action and confirm its anti-crypto stance. https://twitter.com/truthurtm/status/1182304266460917768wechat pay also followed up with an announcement to reassure “wechat will never support cryptocurrencies trading, and has never integrated with any crypto merchant
— Dovey 以德服人 Wan 🪐🦖 (@DoveyWan) October 10, 2019
And it says “we welcome any whistle blower to report such behavior” 🤯🤯🤯 pic.twitter.com/Kj4HTupkKZ
Binance’s Upcoming Plans
In September, Binance announced plans to start supporting fiat on-ramp via OTC for the Chinese yuan, a part of the exchange’s plans to dedicate more time to competing adequately in the Chinese market, as BeInCrypto has previously reported. Zhao confirmed in an October 9 tweet that the company has launched P2P trading in China. According to the CEO, about 1.4 billion people in China can now use the service, with the exchange planning to “expand the service to other regions soon.”
Images are courtesy of Twitter, Shutterstock.
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