Ant Group, the parent company of Alipay, has launched ZAN, a new sub-brand dedicated to blockchain development and services for both individual and institutional Web3 developers.
Ant Group's New Frontier
Ant Group, renowned for owning Alipay, the world's largest mobile payment platform, has ventured into the world of blockchain with the introduction of its subsidiary brand, ZAN. This move is aimed at providing a platform for blockchain development and services tailored to Web3 developers, both individuals and institutions.
Wide Array of Services
ZAN has positioned itself to offer an extensive range of technical products and services. Its offerings encompass solutions to assist Web3 companies in issuing and managing real-world assets (RWAs) in compliance with local regulatory requirements. Additionally, ZAN provides a suite of technical products, including electronic Know Your Customer (eKYC), Anti-Money Laundering (AML), and Know Your Transactions (KYT) services specifically designed for the Web3 sector.
Smart Contract Reviews and More
Moreover, ZAN will extend services such as Smart Contract Reviews (SCR) and Node Services, encompassing Remote Procedure Calls (RPC) to aid in the development of decentralized applications (dApps).
ZAN's Early Adopters
At the Hong Kong Web3 Festival earlier this year, HashKey DID, a decentralized identity data aggregator in the Web3 space, announced its adoption of ZAN's eKYC solution. HashKey Group also played a prominent role as one of ZAN's initial partners during the brand's launch ceremony.
Ant Group's Restructuring
Reports emerged in July suggesting that Ant Group intended to separate its blockchain division from its core operations as part of its bid to secure a financial holding license in China. This restructuring is seen as a strategic move ahead of its forthcoming public listing on the Hong Kong exchange.
Background on Ant Group
In 2020, Ant Group aimed for an impressive $226 billion valuation through a $30 billion IPO in Hong Kong and Shanghai. However, Chinese government authorities thwarted this plan at the time. Now, the company is preparing for another attempt at going public on the Hong Kong exchange.