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Ant Group Launches ZAN Sub-Brand for Blockchain Development and Web3 Services

CryptoAnt Group Launches ZAN Sub-Brand for Blockchain Development and Web3 Services

Ant Group, the company behind the world’s largest mobile payment platform, Alipay, has introduced its new sub-brand called ZAN, with a primary focus on blockchain development and services for both institutional and individual Web3 developers.

In a press release issued on September 8, ZAN outlined its range of technical products and services. These offerings include a solution to assist Web3 companies in issuing and managing real-world assets (RWAs) while ensuring compliance with local regulatory requirements. Additionally, ZAN will provide essential technical tools such as electronic Know Your Customer (KYC) verification, Anti-Money Laundering (AML) checks, and Know Your Transaction (KYT) services tailored for Web3.

ZAN’s portfolio extends to smart contract reviews and node services, including remote procedure calls designed to facilitate the creation of decentralized applications (DApps).

During the Hong Kong Web3 Festival in April, HashKey DID, a Web3 decentralized identity data aggregator, announced its adoption of ZAN’s electronic KYC solution. HashKey Group also participated in the launch of the ZAN brand as one of its initial partners.

In July, Bloomberg reported that Ant Group was considering separating its blockchain division from its core entity, as part of its application for a financial holding license in China.

It’s worth noting that in 2020, Ant Group had ambitions to achieve a $226 billion valuation through a $30 billion initial public offering (IPO) in Hong Kong and Shanghai. If successful, it would have become the largest IPO in history, surpassing records like the $29.4 billion raised by the Saudi Aramco IPO. However, the Chinese government intervened and blocked the IPO.

By FCCT Editorial Team

Disclaimer: The views expressed in this article are independent views solely of the author(s) expressed in their private capacity.

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