Alibaba Subsidiary Launches Blockchain Platform

By
Tana Harina

09/08/2023

4,5

★

Ant Group, a subsidiary of Alibaba, has launched a blockchain platform for the Hong Kong and international market.

The platform goes by the name ZAN. Its CEO Zhang Hui said the platform will offer a range of blockchain app development services. And Alipay noted in a statement that ZAN will help customers launch and manage digital assets while respecting local regulations.

Some ZAN products can help organizations improve customer identity verification and secure their funds. Ant Group highlights bottlenecks in app development, so one of ZAN's goals is to invest in Web3 technologies. And to accelerate innovation, the company hopes to enter into strategic partnerships.

Although China's stance on cryptocurrencies remains tough, domestic companies continue to make efforts to develop blockchain technology.

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