Today In Payments Around The World: JD.com Works With China’s Central Bank On Cryptocurrency; US Users Rush To Get WeChat App
In today’s top payments news around the world, JD.com is working with China’s central bank to advance cryptocurrency, while U.S. WeChat users are reportedly racing to get the Chinese mobile payment, messaging and social media program. Plus, digital payment provider Ant Group is looking for a record return as it goes public.
JD.com has teamed with China’s central bank as the country gets ready to introduce digital currency. The eCommerce retailer has reportedly entered into a relationship with the People’s Bank of China (PBoC)’s Digital Currency Research Institute. JD won’t be the only online shopping company to work with the PBoC to bring cryptocurrency to the country. Didi Chuxing, Meituan-Dianping and Bilibili have all teamed with PBoC in holding pilots for the crypto.
American WeChat users are reportedly rushing to get the Chinese digital payment, communication and social media mobile program. The rise comes as the U.S. Department of Commerce recently said it would challenge a federal court ruling to prevent President Donald Trump’s executive order banning the program. WeChat was installed approximately 54,000 times between Friday (Sept. 18) and Saturday (Sept. 19).
Ant Group is aiming for a record return of $35 billion at a minimum as it goes public in the Shanghai and Hong Kong markets. The IPO could be the largest ever, if it is successful. The news comes as Saudi Aramco, the government-owned oil firm, set the past record of just under $30 billion.
Worldwide stocks were unstable on Monday (Sept. 21) amid emerging worries over another fall because of additional COVID-19 lockdowns. The restrictions are being currently mulled by Britain in the midst of a new wave of COVID-19 infections in the nation. One British official said per reports that there could possibly be 50,000 new cases daily by the middle of October in the event the virus keeps spreading at its current pace.