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China's State-Backed Firm Makes XRP Available for International Payments Despite Crypto Ban

Air China's partners are venturing into the world of cryptocurrencies, specifically through a new service offered by Wetour that allows XRP payments.

This decision comes in the context of China's stringent ban on digital assets, as the service will only be available to users outside of mainland China.

Wetour plans to accept XRP for a range of international services, including airport transfers and private car rentals, marking a significant step in state-supported exploration of digital currency applications.

Air China, under the umbrella of the government-controlled China National Aviation Holdings, has around 60 million PhoenixMiles members who could potentially benefit from this offering while traveling abroad.

Despite the overarching prohibition against digital currencies in China, this move signals a possible shift in how state enterprises view blockchain technology and digital assets on a global scale.

Experts suggest that the play may serve as a test case for Chinese companies to explore the competitive landscape of digital currencies outside of their restrictive domestic environment.

China continues to promote its digital yuan (e-CNY) as an alternative, emphasizing state control over financial innovations.

However, as state-controlled companies experiment with cryptocurrencies abroad, it raises questions about the future landscape of digital assets in China.

The implications of this development may influence how digital currencies are perceived domestically and internationally, particularly in relation to regulatory frameworks.

Overall, this initiative by Wetour signifies a nuanced approach by Chinese firms toward cryptocurrency—even in the face of an outright regulatory ban.