About
WeChat Pay, operated by Tencent's Tenpay subsidiary within the WeChat super-app, is one of China's two dominant mobile payment networks with over a billion users. It handles QR-based in-store and online payments, cross-border merchant acceptance, and is exploring digital-currency and tokenized-payment initiatives, though Chinese regulation has kept it focused on fiat and the e-CNY rather than public stablecoins.
Key products
- Founded
- 2013
- HQ
- Shenzhen, China
- Stage
- Public (Tencent subsidiary)
- Funding
- Tencent subsidiary (HKEX: 0700)
Related companies
1Money Network
Purpose-built L1 dedicated solely to stablecoin payments
1Money is a Layer-1 network engineered exclusively for stablecoin payments, using a patent-pending Byzantine Consistent Broadcast (BCB) consensus that delivers sub-second, instant-finality transfers, industry-low fees, and built-in compliance. It emerged from stealth in early 2025 with over $20M in funding and a team from Circle, Ripple, Binance, Uber, and Meta, launching a public testnet in August 2025 with mainnet targeted for late 2025.
Adyen
Unified commerce PSP exploring stablecoin rails
Adyen is a Dutch global payments platform powering enterprise merchants like Uber, Spotify and Meta. It has been piloting and integrating stablecoin settlement and acceptance options as the card networks and merchants adopt USDC, leveraging its single platform across acquiring, issuing and payouts.
Airwallex
Global payments and financial infrastructure platform
Airwallex is a global payments and treasury platform offering cross-border payments, multi-currency accounts, and embedded finance APIs. In 2025 it began building a dedicated stablecoin platform team to enable customers to buy, hold, send, and settle tokens worldwide, despite CEO Jack Zhang's public skepticism that stablecoins meaningfully improve G10-currency cross-border flows. It passed toward $1bn annualized revenue in 2025.
Alchemy Pay
Global fiat<>crypto payment and ramp gateway
Alchemy Pay is a hybrid fiat-crypto payment gateway connecting merchants and on/off-ramps across 173 countries and 300+ payment channels. In 2025 it launched Alchemy Chain, a blockchain purpose-built for stablecoin payments and cross-border remittances, aggregating global and local stablecoins.
Ant International
Global cross-border payments arm of Ant Group (Alipay+ / Whale)
Ant International is the global arm of Ant Group, operating the Alipay+ cross-border wallet network and the Whale blockchain-based treasury platform, which processed over $600bn in global fund flows in 2025 with 95%+ same-day settlement. It is pursuing stablecoin licenses in Singapore and Hong Kong and integrates tokenized deposits from banks including JPMorgan Kinexys, DBS, Standard Chartered, and Deutsche Bank, favoring tokenized deposits over public-chain stablecoins.
Bakkt
NYDFS-qualified custodian (publicly traded)
Bakkt is an NYDFS-qualified custodian owned by publicly-traded Bakkt Holdings, providing institutional cold custody for assets including BTC, ETH and USDC. It is expanding into stablecoin payments and crypto infrastructure for enterprises.