About $7,094 in total—and that was enough for Alipay to issue a public statement. P2P via Alipay in China is a ticking time bomb
How it worked on Peer (formerly ZKP2P): USDC for yuan, payment by regular Alipay transfer, stablecoins held in an escrow contract until payment confirmation. According to Peer, this has been going on since August 21.
On October 27, Peer announced it as a beta.
The very next day, Alipay said it doesn’t support crypto, and that everything being said about buying crypto through third-party services using Alipay is false.
The scale, according to Peer itself:
- 107 trades
- 45 buyers
In short, tiny. They reacted to the mere mention of Alipay alongside USDC.
Peer later clarified that there’s no formal partnership with Alipay—Alipay is simply a transfer channel here.
What do you think: will Peer quietly keep the yuan route or shut it down?
#Alipay #China
How it worked on Peer (formerly ZKP2P): USDC for yuan, payment by regular Alipay transfer, stablecoins held in an escrow contract until payment confirmation. According to Peer, this has been going on since August 21.
On October 27, Peer announced it as a beta.
The very next day, Alipay said it doesn’t support crypto, and that everything being said about buying crypto through third-party services using Alipay is false.
The scale, according to Peer itself:
- 107 trades
- 45 buyers
In short, tiny. They reacted to the mere mention of Alipay alongside USDC.
Peer later clarified that there’s no formal partnership with Alipay—Alipay is simply a transfer channel here.
What do you think: will Peer quietly keep the yuan route or shut it down?
#Alipay #China
