Chinese fintech giant Ant Group launches new blockchain brand ‘AntChain’

Ant Group, the fintech arm of Chinese e-commerce giant Alibaba Group and the parent of mobile payments company Alipay, has launched its new blockchain brand.

Dubbed “AntChain,” the technology brand is for the company’s blockchain-based solutions, including OpenChain, a spokesperson of Ant Group, told The Block.

AntChain supports more than 50 use cases, including shipping and cross-border remittances, and claims to have the ability to support 1 billion user accounts and process 1 billion transactions per day.

“With the launch of the AntChain brand, we look forward to contributing to the acceleration of blockchain-enabled industry transformations,” said Geoff Jiang, vice president of Ant Group. He added that the brand would help create “tangible value” for clients, including small and medium enterprises.

The news comes just a week after Ant announced its initial public offering (IPO) plans on both Hong Kong and Shanghai stock exchanges. Ant valued at $150 billion in its last funding round and is now seeking a $200 billion valuation via the dual IPO.

Ant Group has been investing “significantly” in blockchain research and development since 2015. Today, the group has also launched “AntChain Station,” which helps its enterprise clients to deploy blockchain solutions 90% faster — “within an hour” as compared to the previous average set-up time of 10 hours.

Ant’s Alipay is also working on projects related to China’s official digital currency. It is widely expected to be a distributor of digital yuan.

Join Geezgo for free. Use Geezgo’s end-to-end encrypted Chat with your Closenets (friends, relatives, colleague etc) in personalized ways.>>
Did you enjoy this post? Please comment below:

  • Bitcoin
  • Ethereum
  • Litecoin
  • Zcash
Scan to Donate Bitcoin to bc1qcc3xajxvdqjnx2f7j7sfcfun7jagr0nh94fa2e

Donate Bitcoin to this address

Scan the QR code or copy the address below into your wallet to send some Bitcoin

Scan to Donate Ethereum to 0x704671D7591d05Dd0790E86Aee964558E9347b07

Donate Ethereum to this address

Scan the QR code or copy the address below into your wallet to send some Ethereum

Scan to Donate Litecoin to ltc1q7tj9ydra9ylkelu42vypp6cu2v0msf5lc2p5mq

Donate Litecoin to this address

Scan the QR code or copy the address below into your wallet to send some Litecoin

Scan to Donate Zcash to t1LiPaQ7gsSL23FbjXswpSoguP6yAE1xj5B

Donate Zcash to this address

Scan the QR code or copy the address below into your wallet to send some Zcash

 158 

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *