Skip to content
$BTC$80,093−0.9%$ETH$2,319−1.4%$SOL$100.12−1.8%$XRP$1.29−2.5%$TON$1.22−1.7%MCap$2.65T−0.9%BTC.D60.3%Fear&Greed51 NeutralGas0.15 gwei·1.1 sat/vBNews mood17% bullish
Basis Desk

New from Basis Desk: free Telegram proxies for places where Telegram is blocked or slowed down.Connect in one tap →

DeFi · 1 min read

Peer Introduces Alipay-Funded USDC Trades on Base in Beta

The integration allows buyers to pay sellers directly in Chinese yuan without an official partnership with Alipay.

Editorial oversight: Julian Mercer, Chief Editor
Neutral
$USDC $1.00 0.0%

At a glance Announced

What happened
Peer launched beta trading enabling buyers to fund USDC acquisitions on Base using yuan via Alipay [1].
Why it matters
The system offers an on-ramp mechanism to Base USDC without an official corporate partnership with Alipay [1].
Who is affected
Users trading USDC on Base and individual sellers accepting yuan via Alipay [1].
What's next
No next step announced [1].
Primary source
thedefiant.io: Peer Adds Alipay-Funded USDC Trading on Base in Beta

Key points

  • Peer introduced Alipay-funded USDC trading on the Base network in beta 1.
  • Transactions involve buyers paying individual sellers directly in Chinese yuan 1.
  • Peer stated that it maintains no official partnership with Alipay 1.

Peer has launched Alipay-funded $USDC transactions on the Base network in a beta deployment 1. The functionality enables buyers to transfer Chinese yuan directly to individual sellers to acquire the stablecoin onchain 1.

According to Peer, the arrangement operates without any formal partnership with Alipay 1. Under the beta model, individual counterparties handle fiat transfers in yuan over the payment platform, while settled transactions provide USDC on the Base blockchain 1. At the time of writing, USDC trades at $1.00.

Peer-to-Peer Settlement Structure

The feature relies on direct counterparties to execute fiat legs of transactions 1. Buyers send payments denominated in yuan straight to individual sellers rather than routing through an integrated payment gateway 1. Peer explicitly clarified that it does not maintain an official relationship with Alipay for the beta release 1.

The development represents another deployment on Base, where protocols have continued building out stablecoin functionality and novel access routes 1. For instance, applications such as Pendle have previously expanded asset utilities across the Base environment. Peer has not disclosed further release dates or timelines for moving the Alipay-funded trading mechanism out of its beta phase 1.

Sources

  1. [1] Peer Adds Alipay-Funded USDC Trading on Base in Beta — thedefiant.io, October 28, 2026

Written by Basis Desk's newsroom system from the primary sources above and machine-verified against them before publication. Market figures marked "at the time of writing" come from live exchange data. Report an error: corrections@basisdesk.news · corrections policy.

Community read
How do you read this story for the assets involved? One vote a day, anonymous.
Be the first to vote
Share X Telegram Bluesky Markdown

The Daily Brief, in your inbox at 07:00 ET

Five stories, the numbers that moved, what to watch. Three minutes. No hype, no advice, unsubscribe in one click.

Not financial advice. Basis Desk publishes information, not recommendations. Crypto assets are volatile and you can lose what you invest.