Crypto news

Ant Group, has introduced a fresh blockchain brand specifically catering to Web3 developers.

Ant Group, the renowned owner of Alipay, the world’s largest mobile payment platform, has recently unveiled its new subsidiary called ZAN.

This sub-brand is specifically dedicated to blockchain development and services,

targeting both institutional and individual Web3 developers.

In an official press release on September 8, Ant Group outlined the diverse range of technical products and services offered by ZAN.

These include assisting Web3 companies in issuing and managing real-world assets (RWAs) while complying with local regulatory requirements.

ZAN also provides various technical offerings such as electronic Know Your Customer (KYC),

Anti-Money Laundering, and Know Your Transaction checks for Web3 applications.

Furthermore, ZAN extends its support through smart contract reviews, node services,

and remote procedure calls, all aimed at facilitating the creation of decentralized applications (DApps).

Noteworthy Developments in Ant Group’s Blockchain Ventures: HashKey DID Integration and Separation Plans

During the Hong Kong Web3 Festival held in April, HashKey DID, a Web3 decentralized identity data aggregator,

made an exciting announcement regarding its integration of ZAN electronic KYC.

This integration marked HashKey Group’s active participation in ZAN’s brand launch ceremony,

highlighting their partnership as one of the initial collaborators.

In July, Bloomberg reported a significant development indicating that Ant Group is planning to separate its blockchain division from its core entity.

The separated division will then apply for a financial holding license in China,

signifying Ant Group’s strategic focus on its blockchain endeavors.

In 2020, Ant Group had ambitious plans to achieve a valuation of $226 billion through a groundbreaking $30 billion initial public offering (IPO) in Hong Kong and Shanghai.

If successful, this IPO would have been the largest ever recorded, surpassing previous records set by notable offerings like the Saudi Aramco IPO, which raised $29.4 billion.

However, the Chinese government intervened and blocked the IPO, altering Ant Group’s trajectory.

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