Payments
China payments news: Alipay, WeChat Pay, UnionPay, QR payments, cross-border payments and the digital yuan (移动支付).
-
HSBC launches RedCoin stablecoin on PayMe, with tokenised fund access to follow
HSBC Hong Kong began rolling out its HKD stablecoin RedCoin in PayMe and plans to let customers buy a tokenised money market fund with it this year.
-
e-CNY reaches data trading and housing funds with first deals in Beijing and Shanghai
Beijing’s big data exchange settled its first data trade in e-CNY, and CCB Shanghai launched e-CNY housing provident fund payments, pushing the digital yuan into corporate and government use.
-
PBOC upgrades e-CNY infrastructure with central bank system and smart contract framework
The PBOC unveiled a central-bank-side e-CNY system and a smart contract framework as e-CNY transactions reached about 31 trillion yuan.
-
Ant International launches Wyn, an AI agent for cross-border merchants on WorldFirst
Ant International’s new Wyn agent lets small exporters open accounts, collect payments and exchange currencies through plain-language instructions.
The week in China fintech, every Friday
The top stories, why they matter, and the events coming up next week. Free.