Chinese fintech giant Ant Group launches overseas blockchain brand ZAN

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By BitcoinWiki News

Key Takeaways:

  • Ant Group, the fintech affiliate of Alibaba, has launched ZAN, a blockchain service aimed at Hong Kong and overseas markets.
  • ZAN offers blockchain application development products and services for institutional and individual web3 developers.
  • ZAN helps institutional clients issue and manage real-world assets in compliance with local regulatory requirements.
  • ZAN provides technical products such as electronic KYC, AML, and KYT services to enhance customer identity authentication, security protection, and risk management for web3 businesses.
  • Ant Group is investing in research and development of web3 technologies and products through ZAN to support the community and accelerate web3 developments and innovations.
  • China remains bullish on homegrown blockchain technology and digital economies, with companies like Alibaba and Tencent developing their own consortium blockchains.
  • Ant Group launched its blockchain brand AntChain in July 2020.
  • ZAN’s technical services have been piloted earlier this year, and its e-KYC feature has been adopted by Hong Kong crypto firm HashKey Group for its identity data aggregator service.

Ant Group, the fintech affiliate of Alibaba, has launched ZAN, a blockchain service aimed at Hong Kong and overseas markets. ZAN offers blockchain application development products and services for institutional and individual web3 developers. It helps institutional clients issue and manage real-world assets in compliance with local regulations and provides technical products such as electronic know-your-customer and anti-money laundering services. The goal of ZAN is to invest in the research and development of web3 technologies and products to support the community and accelerate web3 developments and innovations. Despite China’s ban on cryptocurrency transactions, the country remains focused on developing blockchain technology and digital economies. Ant Group previously launched its blockchain brand AntChain in July 2020 and has been piloting ZAN’s technical services since earlier this year.

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