Ant Group, the owner of Alipay, launches a new blockchain for Web3

The largest mobile payment network in the world, Alipay, is owned by Ant Group, which recently unveiled a new sub-brand called ZAN.

The sub-brand will concentrate on blockchain services and development for both corporate and individual Web3 developers.

About Ant Group’s ZAN

A wide range of technical goods and services that ZAN will provide its customers with are included in the official press release, which was released on September 8. To begin with, ZAN has unveiled a tool to assist Web3 businesses in issuing and managing real-world assets (RWAs) in accordance with regional regulatory standards.

ZAN will offer node services, such as remote procedure calls for creating decentralized apps (DApps), as well as smart contract reviews.

HashKey DID, a Web3 decentralized identity data aggregator, announced its implementation of ZAN electronic KYC in April at the Hong Kong Web3 Festival. HashKey Group was one of the first partners to take part in ZAN’s brand launch event.

According to a July Bloomberg story, Ant Group plans to separate its blockchain division from its main organization, which will submit an application for a financial holding license in China.

Ant Group planned a $30 billion initial public offering (IPO) in Shanghai and Hong Kong in 2020 with a target valuation of $226 billion. The IPO would have been the largest ever if it had been successful, surpassing previous highs set by the $29.4 billion raised by the Saudi Aramco IPO. However, the Chinese government prevented the IPO from happening.