February 1, 2023

Finablr and Alipay will combine the capabilities of their payment platforms on the Ant Financial blockchain

Finablr UK startup and Alibaba payment unit - Alipay - have announced a partnership to study possibilities of interaction between users of two platforms.

According to Ledger Insights, functionalcompatibility between the two platforms will be provided by the Ant Financial blockchain. Through the partnership, Alipay will gain access to an extensive network of users, and Finablr will be able to leverage Alipay's technological advances.

Money transfers to China, India and the Philippines -One of the most promising financial areas, as people from these countries live and work in many countries of the world. A functionally compatible payment register will make it easier for foreign nationals to make transfers to their home country.

One of the goals of the collaboration between Finablr and Alipay isSimplify international transfers as much as possible for residents of these countries. In addition, such payment systems can be a worthy alternative to global stablecoins, for example, the Libra cryptocurrency, which is scheduled to be launched next year.

Recently, the Chinese Internet giant and owner of the popular instant messenger WeChat Tencent said that the launch of the Libra project could pose a serious threat to Alipay and WeChat Pay payment systems.