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Morning Edition · Thursday, October 29, 2026Published at 1:42 AM EDT · New York
Alipay Disowns a Peer-to-Peer Service Selling USDC for Yuan, While Brazil's Itaú Registers as a Licensed Crypto Custodian
China's largest payment network rejected an informal stablecoin on-ramp that had processed about $7,094 across 107 trades, as Brazil closes its licensing window and moves crypto access into regulated banks.
Alipay said it does not support crypto trading after Peer, a peer-to-peer platform, announced a beta feature that let users buy and sell USDC with yuan settled through Alipay. "Claims that Alipay enables crypto purchases on third-party plat…
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Capital Controls Shape Stablecoin Access
States with capital controls will keep shutting informal dollar-stablecoin on-ramps while licensing regimes channel crypto into supervised banks, so access to dollar stablecoins increasingly depends on state-approved intermediaries.
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