Alibaba Affiliate Ant Group Eyes Overseas Web3 Expansion With New Blockchain
Portfolio Pulse from Khyathi Dalal
Alibaba's affiliate company, Ant Group, has launched a new blockchain service, ZAN, targeting Hong Kong, Singapore, and overseas markets to expand its global Web3 presence. The service offers a range of blockchain application development products and services for both institutional and individual Web3 developers. Ant Group began piloting ZAN’s technical services in early 2023, and its e-KYC feature has been adopted by HashKey Group, a Hong Kong crypto firm.
September 08, 2023 | 3:33 pm
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Alibaba's affiliate, Ant Group, has launched a new blockchain service, ZAN, which could potentially increase Alibaba's global Web3 presence. However, it's too early to predict the success of this venture.
The launch of ZAN by Ant Group, an affiliate of Alibaba, could potentially increase Alibaba's global Web3 presence. However, as noted by financial expert Jessica Ran, it's too early to predict whether ZAN will gain real traction overseas. Therefore, while this news is highly relevant to Alibaba, its importance and potential impact on Alibaba's stock price are uncertain at this stage.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 100