Digital yuan vs Alipay and WeChat: peaceful coexistence or a fight for survival
In a few months, during the Winter Olympics in China, the digital yuan – e-CNY – could be launched. In this context, experts and market participants ask a natural question: how will this affect the current leaders in mobile payments in China—Alipay and WeChat? In the People’s Bank of China’s drive to offer a currency that requires no intermediaries, a direct threat to these firms appears.
