Chinese citizens are still investing in Bitcoin and the cryptocurrency market despite the government’s heavy crackdown.
In September 2017, Chinese cryptocurrency exchanges BTCC China.
Hong Kong’s exchanges have also integrated widely-used fintech applications in China such as Alipay and Tencent’s WeChat Pay. Alipay is a $60 billion fintech app that is used by more than 50 percent of mobile users. WeChat Pay, which was only used by seven percent of mobile users in 2014, is now being used by more than 40 percent of mobile users in China.
The integration of the two fintech payment networks has increased the accessibility of Hong Kong-based cryptocurrency OTC exchanges for Chinese investors, easing the process of investing in the cryptocurrency market.