Chinese fintech giant Ant Group launches overseas blockchain brand ZAN

Quick Take

  • Ant Group said ZAN will focus on serving institutional and individual clients in overseas markets including Hong Kong and Singapore.

Ant Group, the fintech affiliate of Chinese internet conglomerate Alibaba, today launched ZAN, a new blockchain service aimed at Hong Kong and overseas markets.

Zhang Hui, chief executive officer of ZAN, said at a conference in Shanghai that ZAN offers a full suite of blockchain application development products and services for both institutional and individual web3 developers.

In a statement shared with The Block, Ant Group, the parent of Alipay, said ZAN can help institutional clients to issue and manage real-world assets in compliance with local regulatory requirements.