TechFlow news: On December 12, Alipay posted on its X platform to debunk rumors stating that "Alipay can be used to purchase cryptocurrencies," calling it false information.
Earlier reports indicated that according to community user feedback, Chinese mainland Alipay users received promotional advertisements for a cryptocurrency fund on their homepage. After verification, this was identified as the Huabao Overseas Technology C (QDII-FOF-LOF) fund product. This fund invests via the QDII program in ARK Invest's ETFs, thereby indirectly holding Coinbase stock and Ark's Bitcoin spot ETF. The daily purchase limit per person is 1,000 RMB.




