Alipay has publicly denied claims that it supports cryptocurrency purchases, calling such statements "false and unauthorized." The denial follows the launch of a beta feature by crypto platform Peer that enables users to convert yuan into USDC stablecoin using Alipay as a payment method. Despite Alipay's rejection, Peer continues to list Alipay as an available payment option on its platform. Peer stated that there is no official partnership between the two companies, but maintained the payment integration remains functional for users accessing the yuan-to-USDC conversion service during the beta phase.