Alibaba integrates the digital yuan in its payment platforms

FlavienDecember 13, 2022

Less than a minute

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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FlavienDecember 13, 2022

Less than a minute

Flavien

Greetings, I go by the name of Flavien - a devoted supporter of cryptocurrency and a tech aficionado who has been keeping track of the developments in the world of blockchain and digital currencies since 2019. The potential of decentralized digital currencies to revolutionize our financial systems has captivated me, and I'm constantly exploring the most recent trends and advancements in this ever-evolving industry. As a content creator for Krypto Channel, my aim is to deliver informative and engaging articles that shed light on all aspects of the crypto world. Whether you're a seasoned investor or simply curious about blockchain technology, I am here to keep you updated on the latest happenings and trends. Being part of this lively and dynamic community is an honor, and I am thrilled to share my passion for cryptocurrency and blockchain with all of you.