Ant Group said ZAN will focus on serving institutional and individual clients in overseas markets including Hong Kong and Singapore.
Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Ant Group, the fintech affiliate of Chinese internet conglomerate Alibaba, today launched ZAN, a new blockchain service aimed at Hong Kong and overseas markets.
Zhang Hui, chief executive officer of ZAN, said at a conference in Shanghai that ZAN offers a full suite of blockchain application development products and services for both institutional and individual web3 developers. In a statement shared with The Block, Ant Group, the parent of Alipay, said ZAN can help institutional clients to issue and manage real-world assets in compliance with local regulatory requirements.
ZAN also provides technical products, including electronic know-your-customer, anti-money laundering and know-your-transactions services, to “help Web3 businesses build up their capabilities in customer identity authentication, security protection and risk management,” the company said. "At Ant Group Digital Technologies, we have seen the trend and also efficiency and security related bottlenecks during the application development process,” Zhang said in the statement. “To resolve these pain points, ZAN is dedicated to investing in research and development of Web3 technologies and products, providing more extensive and reliable technical services to support the community, and working with our partners to accelerate Web3 developments and innovations.
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