<p>China’s Ant Group, the powerhouse firm behind the world’s largest mobile payment platform, Alipay, has made a strategic move by introducing its new blockchain-focused sub-brand, ZAN.</p><p>The initiative signals Ant Group’s intention to carve out a specific niche in the blockchain sector while simultaneously preparing for a potential initial public offering (IPO) that is free from its affiliations with Web3.</p><h2 id="header-0">Offering a suite of solutions</h2><p>ZAN’s unveiling, which was<a href="https://www.businesswire.com/news/home/20230907788903/en/" rel="noopener noreferrer nofollow"> announced</a> in an official press release via Business Wire on Friday, heralds a comprehensive suite of technical solutions and services catering to both institutional players and individual developers in the Web3 ecosystem. At its core, ZAN offers a solution that enables Web3 companies to seamlessly issue and manage real-world assets (RWAs) while adhering to local regulatory frameworks.</p><p>But ZAN’s ambitions don’t stop there. The brand aspires to revolutionize the Web3 landscape with a suite of technical offerings, including cutting-edge tools for electronic Know Your Customer (KYC) procedures, anti-money laundering (AML) measures, and Know Your Transaction (KYT) checks, all purpose-built with a view towards achieving the highest levels of compliance.</p><h2 id="header-1">Focus on dApps</h2><p>Moreover, ZAN will also focus its attention on decentralized applications (dApps) through its provision of smart contract reviews and node services. These services, including remote procedure calls (RPCs), are poised to empower developers, offering them the essential tools they need to craft innovative dApps that can thrive within the Web3 ecosystem.</p><p>ZAN’s journey has already seen notable partnerships, with HashKey DID, a decentralized identity data aggregator in the Web3 space, announcing its adoption of ZAN’s electronic KYC solution during the Hong Kong Web3 Festival in April.</p><p>This move by Ant Group aligns with its reported intention to segregate its blockchain subsidiary from its core entity. In July it emerged that the company was<a href="https://medium.com/&#64;coinness.gl/ant-group-restructuring-with-implications-for-blockchain-22c7f4fd7bed" rel="noopener noreferrer nofollow"> restructuring</a> with implications for its blockchain activities having been envisaged at the time. Given the size of the enterprise, the adoption of blockchain by Ant Group thus far has played a pivotal role in furthering blockchain use and implementation within Mainland China.</p><h2 id="header-2">IPO and further expansion</h2><p>This separation is expected to be a pivotal step for the company in securing a financial holding license in China, further underscoring Ant Group’s interest in pursuing compliance and regulatory alignment.</p><p>Ant Group had ambitious plans for a $30 billion initial public offering (IPO) in Hong Kong and Shanghai in 2020, with a staggering $226 billion valuation at the time. It’s evident that the financial giant remains resolute in its pursuit of expansion and diversification, although it has faced regulatory obstacles in its endeavors to do so.</p><p>While the IPO was thwarted by the Chinese government, it is promising for the development of blockchain within China to see that the firm is once again making strategic moves in the blockchain sector, spearheaded in this instance through ZAN.</p>

Ant Group Targets Web3 Developers With New Brand Launch

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