Alibaba’s Ant Financial Backs $10 Million Round for Blockchain Privacy Startup
Alibaba affiliate Ant Financial has participated in a $10 million funding round for blockchain privacy startup QEDIT and is using the firm's tech.
PBOC wants to distinguish its own digital currency from rival private initiatives.
Chinese internet giant Alibaba Group has won two U.S. patents designed to make its blockchain network safer and faster.
Ant Financial claims its enterprise blockchain can handle a billion transaction a day and save costs in global shipping.
The fintech arm of Chinese tech giant Alibaba Group said it expects the blockchain to go live in around three months.
WeChat parent Tencent and Alibaba's payments arm Ant Financial have no plans to follow Facebook into crypto.