Business News

Alibaba integrates the digital yuan in its payment platforms

Chinese tech giant Alibaba and its Taobao e-commerce platform are to integrate the digital yuan, the Chinese CBDC, into their payment methods, on top of being added to the Alipay e-payments platform.
Though the eCNY was launched as a pilot in 2019, it was only integrated into social media and payment app Wechat on April 7, 2022. Alipay and Wechat dominate the e-payments market, with around 15% of the transaction.
Alipay will release in batches in the following weeks or months several eCNY services, but the details have yet to be revealed.

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