And just like that, the Digital Yuan has its route into the mainstream
Alibaba’s controversial financial services arm, the Ant Group, has been welcomed into trials of China’s digital currency.
China’s state-controlled media on Monday reported that the Alipay app has added a feature allowing transactions in the Digital Yuan. Alipay has over 700 million monthly active users in China alone.
State-backed journal China Securities Journal reports that functionality to link to a bank is currently limited, and that no merchants are listed. Nor has the feature been made available to all users. But the Journal reports that real-time, anonymous, transactions are possible.
A second Journal piece reports that an Ant-Group-backed bank has also linked accounts to the Digital Yuan, as have some other banks.Continue reading… “China’s digital currency adds support for AliPay – the Alibaba payment app with over 700 million users”