Ant Group, the operator of Alipay, is forging ahead in the Web3 arena with its new offshoot, ZAN. This move signals a strategic pivot toward an IPO, distancing itself from Web3 ties.
ZAN is set to revolutionize blockchain development, focusing on both institutional and individual Web3 developers. The official press release, dropped on September 8th, showcases ZAN’s diverse technical offerings. It kicks off with a solution for Web3 companies to manage real-world assets compliantly.
Security is paramount. ZAN provides tailored electronic KYC, AML, and KYT checks for Web3. Additionally, it offers smart contract reviews, node services, and remote procedure calls for DApp development.
HashKey DID, a Web3 identity data aggregator, already adopted ZAN’s electronic KYC during the Hong Kong Web3 Festival. In July, Ant Group’s blockchain branch started exploring separation from the core entity, setting the stage for a Chinese financial holding license application.
In 2020, Ant Group aimed for a groundbreaking $30 billion IPO, thwarted by the Chinese government. As ZAN takes center stage, Ant Group’s blockchain journey is poised for more innovation and compliance in the ever-evolving Web3 landscape.
