Cryptocurrencies are Banned in China: But a State-Controlled Company Makes a Move on XRP

Air China's miles program partner, Wetour, has announced an XRP payment option. However, the service will only be available on overseas platforms due to a comprehensive ban on digital assets in mainland ￰0￱ to the statement, Wetour will accept XRP payments for some of its international ￰1￱ will include services such as airport transfers and private car ￰2￱ move is considered a notable example of a state-controlled airline partner testing digital asset ￰3￱ News: JPMorgan Chief Analyst Reveals What Will Happen If the Fed Cuts Interest Rates However, the company specifically emphasized that payments can only be used ￰4￱ China is part of the central government-controlled China National Aviation Holdings (CNAHC).

China bans all digital asset-based payments and encourages the use of the digital yuan (e-CNY). Therefore, XRP payments will only be available to Air China's 60 million PhoenixMiles members living or traveling ￰5￱ experts interpret this move as an effort by Chinese state-owned companies to test blockchain technology against global competition by conducting digital asset experiments abroad. *This is not investment ￰6￱ Reading: Cryptocurrencies are Banned in China: But a State-Controlled Company Makes a Move on XRP