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Any role for Libra beyond the payment function could bring changes to the rules of the global monetary system, and regulators should pay close attention to that possibility, Huang said.

Apart from its on-line sales and two physical stores, products of Xiaomi, a privately-owned Chinese electronics and software company headquartered in Beijing, will also be displayed in other offline channels, such as Carrefour, MediaMarkt y Phone House.

Another US navy official, who spoke on the condition of anonymity, said that the Chinese cooperation was a win for protocols set up between all the nations in the region, including China.

Ant Financial now operates Alipay, one of the world's largest mobile and online payment platform, controlling more than 50 percent of China's mobile market where QR code, or quick response code, has become dominant in the digital payment sector.

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