China's web giants are looking overseas to aggressively woo cryptocurrency exchange customers, and a silent business war is unfolding from cloud services to large-scale AI models. (Synopsis: Offshore "feast has passed": from U.S. stock tax supplement to on-chain pricing power, the "route dispute" of cryptocurrency exchanges) (Background supplement: LBank exchange is rumored to launch a US listing plan, invited full-time employees will receive 250 original shares, Chinese employees excluded) Web X, one of Asia's largest crypto summits, was recently held at the Garden Tower of the Prince Hotel in Tokyo, Japan, which is the largest crypto event in Japan. On the same day, the newly inaugurated Japanese Prime Minister Shigeru Ishiba attended the meeting and emphasized that Japan hopes that cryptocurrencies will help transform Japanese society. It is reported that there were more than 10,000 attendees, most of them Japanese, and among the small group of foreigners, an unnoticed group appeared in the venue: employees of Internet giants from China. The birth of cryptocurrencies in (2009 ) was at the height of the PC Internet era, Tencent and Alibaba's main business was still exploding, and this new financial paradigm did not attract the attention of unicorns at that time. And with cryptocurrency trading and mining repeatedly banned by Chinese regulators, this dangerous thing full of uncertainty is naturally not liked by Internet giants, and few giants have invested resources to compete in this field. But in the summer of 2025, web giants have set their sights on cryptocurrencies overseas and started a war without gunsmoke. A Chinese TOP 3 figure told Foresight News in Tokyo that their purpose in participating in the crypto summit is to find quality customers: larger cryptocurrency exchanges that sell them the company's own cloud services and large models. As early as 2022, a report from Pinplay (PingWest) revealed this hidden business: the real revenue pillar of AWS China, a subsidiary of AWS, one of the world's largest cloud service providers, comes from the cryptocurrency circle, and Pinplay cites sources that 70% of AWS China's revenue comes from overseas, of which 50% All from the coin circle. In other words, crypto companies contribute more than one-third of AWS China's revenue. It's hard not to attract the attention of China's homegrown cloud service giants. On April 30, 2025, IDC released the "China Public Cloud Service Market (2024 Second Half ) Track" report, and the size of China's public cloud IaaS market in the second half of 2024 was 94.82 billion RMB, a year-on-year increase of 13.8%. Alibaba Cloud ranked first in the market, and its share rebounded for three consecutive quarters. Huawei is second, China Telecom is third, China Mobile is fourth, and Tencent is fifth. Foresight News understands that in the increasingly fierce competition for cloud services, the above-mentioned non-state-owned cloud service giants have set up their own Web3 sales departments to compete for this part of the "sweet potato", including Alibaba, Tencent, and even Huawei, and users can browse related products directly on the front-end page. It is worth noting that this setup is not unique to Chinese giants, and all international giants, including AWS, Google, and Microsoft, have the same products in their cloud divisions. Foresight News also understands that the main offices of these business units used to be located in Singapore, or were related to the withdrawal of many cryptocurrency exchanges from mainland China to Singapore in 2021, but this phenomenon is bound to be untenable as Singapore's crypto regulatory policies become very strict after June 30, 2025. But the demand for cloud from these offshore cryptocurrency exchanges will not diminish, which also means that the competition for cloud market share will not end. On Web X in Tokyo, two other representatives from China's social giants told Foresight News that they were late starters, but they were also targeting compliant cryptocurrency exchanges. As a latecomer, the change in this competition comes from the development of AI technology, "Our large-scale model technology is also very willing to be provided to crypto institutions, and if there is a demand for cloud services and large-scale models, we are very welcome." This strategy has been followed by other giants, who have also mentioned that their large model interfaces can provide. For competitors, they also studied very clearly, and directly pointed out that it is OKX Exchange that chooses Alibaba cloud services. Previously, Aliyun affected cryptocurrency transactions on OKX in a one-time large-scale crash event, which also indirectly led to the subsequent change of Aliyun's leader. A representative of the giants told Foresight News that they have taken 60% of the cloud service slot on a medium-sized exchange. This war without gunsmoke has been going on, and from cloud services to the field of large models, even the domestic unrecognized cryptocurrency business, in the heat of overseas, all the global giants do not want to miss this revenue. Among the domestic giants, Ant Digital's layout for cryptocurrencies is relatively cutting-edge, and its representative told Foresight News in Tokyo that the blockchain developed by Ant will be launched in September, and they are also looking for target customers. And like ants, JD.com, which is trying to issue stablecoins in Hong Kong, its founder Liu Qiangdong also revealed during this year's delivery war that JD.com's ambition is to apply for stablecoin licenses in dozens of countries around the world, when the time comes, users can use JD.com stablecoins to buy all goods, and this payment experience is not available to the current Internet giants. There is no doubt that these web giants want to make cryptocurrencies a new piece of the puzzle in their business landscape. Just recently, Google announced the launch of its own "public chain", but discerning people know that it is just a limited alliance chain, far from Ethereum. This also begs an interesting question: do these world's most advanced web giants really understand blockchain technology and the spirit of cryptopunk? As for whether China's local web giants will enter the Web3 space deeply, an employee of the above-mentioned web company told Foresight News: "We will never enter the field without the relaxation of domestic regulatory policies, at least on the surface." Related Stories Is China's A-share bull market coming? Shanghai Composite Index hits a ten-year high, "deposit moving" ignites investment boom Huida and Supermicro agree to Trump's "15% AI chip tax", import H20 and MI308 into China, and the gross profit is directly remitted to Washington DeepSeek announced China's "13 occupations that may be eliminated in five years", netizens laughed at themselves: I don't have a job, what am I afraid of? "China's Internet giants are hunting for coin circle exchanges" This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".
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Chinese internet giants are hunting the crypto world exchanges.
China's web giants are looking overseas to aggressively woo cryptocurrency exchange customers, and a silent business war is unfolding from cloud services to large-scale AI models. (Synopsis: Offshore "feast has passed": from U.S. stock tax supplement to on-chain pricing power, the "route dispute" of cryptocurrency exchanges) (Background supplement: LBank exchange is rumored to launch a US listing plan, invited full-time employees will receive 250 original shares, Chinese employees excluded) Web X, one of Asia's largest crypto summits, was recently held at the Garden Tower of the Prince Hotel in Tokyo, Japan, which is the largest crypto event in Japan. On the same day, the newly inaugurated Japanese Prime Minister Shigeru Ishiba attended the meeting and emphasized that Japan hopes that cryptocurrencies will help transform Japanese society. It is reported that there were more than 10,000 attendees, most of them Japanese, and among the small group of foreigners, an unnoticed group appeared in the venue: employees of Internet giants from China. The birth of cryptocurrencies in (2009 ) was at the height of the PC Internet era, Tencent and Alibaba's main business was still exploding, and this new financial paradigm did not attract the attention of unicorns at that time. And with cryptocurrency trading and mining repeatedly banned by Chinese regulators, this dangerous thing full of uncertainty is naturally not liked by Internet giants, and few giants have invested resources to compete in this field. But in the summer of 2025, web giants have set their sights on cryptocurrencies overseas and started a war without gunsmoke. A Chinese TOP 3 figure told Foresight News in Tokyo that their purpose in participating in the crypto summit is to find quality customers: larger cryptocurrency exchanges that sell them the company's own cloud services and large models. As early as 2022, a report from Pinplay (PingWest) revealed this hidden business: the real revenue pillar of AWS China, a subsidiary of AWS, one of the world's largest cloud service providers, comes from the cryptocurrency circle, and Pinplay cites sources that 70% of AWS China's revenue comes from overseas, of which 50% All from the coin circle. In other words, crypto companies contribute more than one-third of AWS China's revenue. It's hard not to attract the attention of China's homegrown cloud service giants. On April 30, 2025, IDC released the "China Public Cloud Service Market (2024 Second Half ) Track" report, and the size of China's public cloud IaaS market in the second half of 2024 was 94.82 billion RMB, a year-on-year increase of 13.8%. Alibaba Cloud ranked first in the market, and its share rebounded for three consecutive quarters. Huawei is second, China Telecom is third, China Mobile is fourth, and Tencent is fifth. Foresight News understands that in the increasingly fierce competition for cloud services, the above-mentioned non-state-owned cloud service giants have set up their own Web3 sales departments to compete for this part of the "sweet potato", including Alibaba, Tencent, and even Huawei, and users can browse related products directly on the front-end page. It is worth noting that this setup is not unique to Chinese giants, and all international giants, including AWS, Google, and Microsoft, have the same products in their cloud divisions. Foresight News also understands that the main offices of these business units used to be located in Singapore, or were related to the withdrawal of many cryptocurrency exchanges from mainland China to Singapore in 2021, but this phenomenon is bound to be untenable as Singapore's crypto regulatory policies become very strict after June 30, 2025. But the demand for cloud from these offshore cryptocurrency exchanges will not diminish, which also means that the competition for cloud market share will not end. On Web X in Tokyo, two other representatives from China's social giants told Foresight News that they were late starters, but they were also targeting compliant cryptocurrency exchanges. As a latecomer, the change in this competition comes from the development of AI technology, "Our large-scale model technology is also very willing to be provided to crypto institutions, and if there is a demand for cloud services and large-scale models, we are very welcome." This strategy has been followed by other giants, who have also mentioned that their large model interfaces can provide. For competitors, they also studied very clearly, and directly pointed out that it is OKX Exchange that chooses Alibaba cloud services. Previously, Aliyun affected cryptocurrency transactions on OKX in a one-time large-scale crash event, which also indirectly led to the subsequent change of Aliyun's leader. A representative of the giants told Foresight News that they have taken 60% of the cloud service slot on a medium-sized exchange. This war without gunsmoke has been going on, and from cloud services to the field of large models, even the domestic unrecognized cryptocurrency business, in the heat of overseas, all the global giants do not want to miss this revenue. Among the domestic giants, Ant Digital's layout for cryptocurrencies is relatively cutting-edge, and its representative told Foresight News in Tokyo that the blockchain developed by Ant will be launched in September, and they are also looking for target customers. And like ants, JD.com, which is trying to issue stablecoins in Hong Kong, its founder Liu Qiangdong also revealed during this year's delivery war that JD.com's ambition is to apply for stablecoin licenses in dozens of countries around the world, when the time comes, users can use JD.com stablecoins to buy all goods, and this payment experience is not available to the current Internet giants. There is no doubt that these web giants want to make cryptocurrencies a new piece of the puzzle in their business landscape. Just recently, Google announced the launch of its own "public chain", but discerning people know that it is just a limited alliance chain, far from Ethereum. This also begs an interesting question: do these world's most advanced web giants really understand blockchain technology and the spirit of cryptopunk? As for whether China's local web giants will enter the Web3 space deeply, an employee of the above-mentioned web company told Foresight News: "We will never enter the field without the relaxation of domestic regulatory policies, at least on the surface." Related Stories Is China's A-share bull market coming? Shanghai Composite Index hits a ten-year high, "deposit moving" ignites investment boom Huida and Supermicro agree to Trump's "15% AI chip tax", import H20 and MI308 into China, and the gross profit is directly remitted to Washington DeepSeek announced China's "13 occupations that may be eliminated in five years", netizens laughed at themselves: I don't have a job, what am I afraid of? "China's Internet giants are hunting for coin circle exchanges" This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".