Alibaba Confines Over-The-Counter Digital Currency Trading

August 24, 2018

Payment division of the Alibaba corporation, Ant Financial, plans entering into partnership with the China government with the view to cut short transactions with digital currencies among private individuals via Alibaba instruments.

The Ant Financial unit is going to monitor more thoroughly the accounts of traders, customers and the platforms with Alipay service support that can be used for OTC trade operations with digital currencies.

Ant Financial spokesperson has claimed that Alipay is against providing crypto trading options. The company will keep a close eye on over-the-counter user operations. If any crypto transaction is detected, it will take all possible effort to terminate them.

The organization does not comment on how many users were found being involved in OTC digital trading via its instruments.

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