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Markets

China’s Digital Yuan Will Be ‘Backup’ to Alipay, WeChat, Says PBOC

In order to support the retail payment system, the central bank has to step up its own digital yuan.

People's Bank of China's headquarters in Beijing

Markets

What China's Cashless Revolution Can Teach the West About Crypto

China appears to have achieved the crypto community's dream of a new internet of value, without blockchain. But there's more than meets than eye here.

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Markets

WeChat, Alipay to Block Crypto Transactions on Payment Platforms

WeChat Pay and Alipay are scrambling to keep up with regulators after recent announcements regarding initial coin offerings and cryptocurrencies.

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