Hi friends,

Hope you had a great Thanksgiving. Time for some China fintech news!

The Coin Related

• The PBOC reaffirmed its tough stance by vowing to intensify its crackdown on virtual currency activities. Meanwhile. China’s bitcoin mining industry has quietly rebounded despite an official ban since 2021.
• Binance named co-founder Yi He as Co-CEO, launched "Binance Prestige" bespoke service targeting private wealth and asset allocators. They also launched a new controversial product "Binance Junior", which is designed to help parents manage cryptocurrency for children.
• RedotPay has teamed up with Ripple to enable verified users to convert crypto and stablecoins into near-instant, low-cost Nigerian naira payouts via Ripple Payments.
• OSL Group has obtained an approval to roll out stablecoin payment services for wholesale customers in Australia.
• INDODAX,Indonesia’s largest cryptocurrency exchange, has signed an MoU with Hong Kong–licensed HashKey Exchange to enhance Southeast Asia’s crypto infrastructure.
• UAE and China executed their first cross‑border CBDC payment.

Product & Partnership Launches

• Bank Indonesia plans to enable digital payments in China and South Korea by 2026.
• UnionPay and Vietnam launched a pilot program for cross-border QR payments connecting China and Vietnam.
• Ant International's Antom upgraded AI Copilot to automate merchant payment workflows. Its WorldFirst also introduced an AI-powered API-based enterprise solution designed to help large businesses expand globally by providing a unified financial infrastructure.
• Ant International launched Alipay+ in Bahrain.
• Macau Pass partnered with Alipay to its MPay Tap! service across Macao.
• OCBC plans to let Singapore customers use its app to pay Chinese merchants via WeChat Pay QR codes from early 2026.

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