Alipay has officially denied supporting cryptocurrency trading through third-party platforms. The company issued a statement on October 28, 2026, warning users that any external services claiming to facilitate crypto purchases via its payment rails are doing so without authorization.
The announcement followed a beta feature launch by the peer-to-peer platform Peer, which allowed users to trade the stablecoin USDC using Alipay for settlement. Peer reported that the feature had been operational since August 21, 2026, facilitating 107 transactions worth approximately $7,094 across 45 buyers.
Peer clarified that it has no formal partnership or integration with Alipay, describing its service as a user-driven setup. Despite this, Alipay maintains a long-standing policy of blocking crypto-related activity in compliance with Chinese regulations.
Since 2021, Alipay has utilized monitoring systems designed to detect and terminate accounts involved in cryptocurrency transactions. The company previously issued similar public denials regarding unauthorized crypto associations in 2019 and 2024.
