Ant Group Introduces Sub-brand ‘ZAN’

Ant Group, a leader in financial technology, is set to introduce its latest sub-brand named, ZAN. The company will concentrate on blockchain solutions and development to benefit corporate and independent Web3 developers.

Ant Group Targets Wide Range of Services

As per the press release which was published on September 8, ZAN will provide its customers with a wide range of technical goods and services. It begins with a tool to assist Web3 businesses in issuing and managing real-world assets (RWAs) in accordance with regional regulatory standards. 

Numerous Technological Products are also Covered  

A number of technological products are also covered, such as electronic Know Your Customer (KYC), Anti-Money Laundering, and Know Your Transaction checks for Web3. Ant Group’s sub-brand is going to provide node services, such as remote procedure calls for creating decentralized apps (DApps), as well as smart contract reviews.

Blockchain plays a big part in Web3 development as it lays the groundwork for developing decentralized services and apps that can function without centralized management. Blockchain technology has also given rise to cryptocurrencies and various digital assets, playing a vital role in the tokenization of assets in Web3 development. 

Tamper-Proof Record Of Transactions

The immutability of blockchain technology is a key factor in raising security in Web3 development. It offers a tamper-proof record of transactions since data on it cannot be changed or removed. 

HashKey DID Announces Implementation of ZAN

Notably, HashKey DID, a Web3 decentralized identity data aggregator, announced its implementation of ZAN electronic KYC in April during the Hong Kong Web3 Festival. HashKey Group was one of the first partners to take part in the Ant Group’s sub-brand brand launch event. 

The business crossed the border into Singapore in June of last year after receiving authorisation from the Monetary Authority of Singapore (MAS) to launch a digital bank in the country. Moreover, a July Bloomberg story reported previously that Ant Group plans to separate its blockchain division from its main organization, which will submit an application for a financial holding license in China.