Alibaba, is going to launch of two new blockchain affiliates with Ant Financials from district of Huangpu in Shanghai.
Ant Blockchain and Ant Double Chain will be involved, where Ant Blockchain will responsible for big data and system development and Ant Double Chain Technology will engage in RnD, financial information services and supply chain management.
Former Alipay is now Ant Financial, which is China’s leading online and mobile payments service provider. They have around 500 million users. They launched their first blockchain-based electronic payment system for cross border remittance service between Hong Kong and Philippines.
[ Source: https://www.asiatimes.com/2019/03/article/alibaba-launches-two-blockchain-subsidiaries/ ]
