The owner of Alipay- the world’s largest platform for mobile payment- Ant Group, recently revealed a sub-brand that falls under the name ZAN. This brand will be focusing on the development of blockchain, as well as services for both the individual, as well as the institutional Web3 developers.
The official release from the press, which was published on the 8th of September, went on to cite an extremely broad scope of technical services and products that the sub-brand will be offering to its clients. This initially starts with a solution to help the companies of Web3 issue, and subsequently manage real-world assets in total compliance with the local regulatory requirements.
Ant Group Looking Towards The Biggest IPO Valuation
Ant Group’s ZAN will also be providing one with smart contract reviews, and node services, which further include remote procedure calls that could be used to build decentralized applications. Back in April, at the Hong Kong Web3 Festival, HashKey DID, a Web3 decentralized identity data aggregator, went on to announce its adoption of the KYC for ZAN electronics.
HashKey Group had previously participated in the brand launch ceremony of ZAN as one of the first partners. In July, Bloomberg reported that the company was looking towards excluding its blockchain branch from the main entity- which would be applicable when one wanted to apply for a financial holding license in China.
In 2020, Ant Group had aimed for a valuation of $226 billion, with an Initial Public Offering of $30 billion in Hong Kong and Shanghai. If this succeeded, the IPO would have been the biggest ever- where it beat records set by the Saudi Aramco IPO at $29.4 billion. Yet, unfortunately, this IPO ended up being blocked by the government in China.