Alipay denies supporting crypto trading via third-party platforms

The payments giant says outside platforms claiming crypto access through its services are acting without authorization, and it warned users to protect their accounts Alipay has publicly denied that it supports crypto trading through third-party platforms. It also told users to keep a close eye on their accounts and funds. The statement came on October 28, 2026, and was posted on social media in both Chinese and English. One of China’s most widely used payment services clearly wanted the message to reach well beyond a domestic audience. What Alipay said, and who prompted it Alipay said that third-party platforms advertising crypto purchases through its services are making unauthorized claims. In plain terms, nobody has permission to use the Alipay name as a crypto on-ramp. The company framed the denial as a consumer protection warning. It said users who follow these platforms could put their accounts and funds at risk. The timing was not random. A day earlier, the peer-to-peer platform Peer announced a beta feature that let users buy and sell USDC, a dollar-pegged stablecoin, with payments settled in Chinese yuan through Alipay. According to Peer, the feature had been live since Aug...