Ant Group Introduces ZAN Brand

Crypto News– Today, Ant Group, the fintech subsidiary of Alibaba, a leading Chinese internet conglomerate, unveiled ZAN, a novel blockchain service specifically tailored for Hong Kong and international markets.

Ant Group Introduces ZAN Brand

Zhang Hui, the CEO of ZAN, announced during a conference in Shanghai that ZAN boasts a comprehensive array of blockchain application development tools and services catering to both institutional and individual web3 developers.

In an official statement shared with The Block, Ant Group, the parent company of Alipay, highlighted ZAN’s ability to assist institutional clients in issuing and overseeing real-world assets in accordance with local regulatory frameworks. Furthermore, ZAN offers a suite of technical solutions, encompassing electronic Know Your Customer (eKYC), anti-money laundering (AML), and Know Your Transactions (KYT) services. These offerings are designed to empower Web3 businesses by enhancing their capabilities in customer identity verification, security measures, and risk management,” the company emphasized.

Blockchain Advancement

Despite China’s comprehensive ban on cryptocurrency transactions in September 2021, the nation maintains an optimistic outlook on domestically developed blockchain technology and digital economies. Chinese tech titans like Alibaba and Tencent are directing their efforts toward cultivating their proprietary consortium blockchains.

At Ant Group Digital Technologies, we have seen the trend and also efficiency and security related bottlenecks during the application development process.o 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.

Zhang Hui

As an illustration, Alibaba’s Ant Group inaugurated its blockchain initiative, AntChain, in July 2020.

Ant Group recently revealed that it commenced trials of ZAN’s technical offerings earlier this year. Notably, ZAN’s electronic Know Your Customer (e-KYC) feature has been embraced by HashKey Group, a cryptocurrency firm headquartered in Hong Kong, to enhance its identity data aggregation services, as stated in the announcement.