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 China. According to the statement, Wetour will accept XRP payments for some of its international services. This will include services such as airport transfers and private car rentals. This move is considered a notable example of a state-controlled airline partner testing digital asset payments. Related 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 abroad. Air 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 abroad. Some 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 advice. Continue Reading: Cryptocurrencies are Banned in China: But a State-Controlled Company Makes a Move on XRP