WuBlockchain
Alipay says it does not support cryptocurrency trading or related services, rejecting claims that users can buy crypto through third-party platforms using its payment service. The statement followed P2P platform Peer’s announcement of beta support for buying and selling USDC with CNY payments via Alipay.
Why it matters
Alipay’s denial draws a clear line between a platform’s own payment services and third-party claims of access. For users, the distinction matters: a payment option advertised by a P2P service does not establish that Alipay authorizes or supports the transaction.
Market impact
Alipay warned users to protect their funds and account security. The dispute adds uncertainty around the availability of mainstream payment rails for USDC trading through P2P platforms in China, without establishing whether Peer’s beta transactions can proceed.
Frequently asked questions
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What did Alipay say about cryptocurrency trading?
Alipay said it does not support cryptocurrency trading or related services and called claims of third-party crypto purchases using its service false and unauthorized.
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What did Peer announce?
P2P trading platform Peer announced beta support for buying and selling USDC using CNY payments via Alipay.
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Does Peer’s beta announcement mean Alipay authorized the service?
No. Alipay rejected claims that it supports crypto purchases through third-party platforms and described them as unauthorized.
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What warning did Alipay give users?
Alipay urged users to exercise caution and protect their funds and account security.
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What does the dispute mean for USDC traders using Alipay?
It raises uncertainty about Alipay’s availability as a payment route for USDC trading through P2P platforms. Alipay says it does not support the service.
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