The two Chinese giants are reportedly working on creating a large-scale crypto exchange. Tron sees it as a great opportunity to contribute to the adoption of crypto via the large ecosystem that Alibaba has created over the years.
Burning midnight oil
The working groups of both companies are exchanging info, preparing the basis together and study the methods of work that can be taken from the primary players of this field like Binance, Bitfinex, Coinbase, etc. Alibaba reps confirm that a lot of discussing has been made so far as to planning the exchange infrastructure.
Chinese crypto ban? Never heard of that!
Alibaba is well aware of the current situation in China regarding electronic currencies. The giant is reportedly collaborating with the authorities in order to get the permission to run the exchange and not to violate the current regulatory measures.
The Alibaba team, as rumours have it, believe that the current prohibition of ICOs and crypto is just a smoke screen. Unofficially, which cannot be confirmed by any public sources, China has made a heavy investment in crypto and mining technologies. Most probably, Alibaba would not even think of starting this new project unless they were positive about getting all the necessary approvals from Chinese regulators.