Alipay and WeChat Will Not Accept Crypto

Alipay and WeChat Will Not Accept Crypto


Alipay and WeChat Ban Crypto Transactions Alipay, the Chinese leading payment solution, wants to make something clear. The company will not allow the usage of cryptocurrencies on its platform.

Alipay made this announcement in a twitter thread. The story goes like this: first Binance CEO, Changpeng Zhao (CZ) responded to a question on twitter that reads, “Is Binance now accepting fiat on-ramp with #Alipay and #Wechat pay?”

His reply to the question was “Yes,” and this earned him a major clap back from the company. — CZ Binance (@cz_binance) October 9, 2019 Alipay quickly refuted his claims in a series of tweets. They stated that if any transaction is confirmed as crypto-related, it will be halted immediately. The tweet reads : “If any transactions are identified as being related to bitcoin or other virtual currencies, @Alipay immediately stops the relevant payment services.”

Last year, Alipay also placed a ban on all OTC trading accounts relating to bitcoin.

WeChat Pay also debunked the tweet, stating in Chinese that all crypto-related transactions have been canceled. It further asked users to report any crypto-related activities. After all, the Chinese anti-crypto policy currently deems crypto transactions illegal.

CZ afterward explained that Binance is not currently working with Alipay or WeChat. Its users, however, can also still carry out transactions. This comes after the announcement of Binance’s peer-to-peer trading for BTC, ETH and USDT against the Chinese Yuan. Some confusion by some news outlets. @Binance is not working directly with WeChat or Alipay. However, users are able […]