Libra raises questions for Alipay, WeChat Pay

The announcement of the birth of Libra, the digital currency backed by a consortium of tech companies led by Facebook, has grabbed headlines around the world, including China.

Discussions abound as to whether the cryptocurrency could pose a challenge in a country where mobile-based digital payments have become ubiquitous thanks to the rise of Alibaba-backed Alipay and Tencent's WeChat Pay.

The hype around Libra since the news was announced a month ago reached its apex when queries on whether "Libra will compete with Alipay and WeChat Pay" ranked as the second most popular search in the middle of July on Weibo, China's major microblogging service, according to China-focused online Twitter source Cnledger.