Alipay’s owner just launched a blockchain-based trade platform

The owner of China’s mobile payment app Alipay, Ant Group, has just launched a new blockchain-based platform for international trade settlements. The new launch comes just ahead of its massive $35 billion-large IPO, and it is likely not going to be the last that the firm will create in the near future.

Ant is preparing the largest IPO yet

Ant Group is a major giant in its field, and as if that wasn’t enough, it is also backed by China’s e-commerce conglomerate, Alibaba Group Holding. After 16 years in business, the firm decided to list in two different markets — Hong Kong, as well as Shanghai’s STAR Market.

Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

The listing is also likely going to be the largest IPO in history. It will even surpass Saudi Aramco’s IPO which held that title since last December, when it held the record with its $29.4 billion sale.

As mentioned, Ant wishes to beat this record with a $35 billion dual IPO, and it feels confident that it can pull it off. Apparently, the company has assessed the investors’ interest, which was high enough for Ant to think that an IPO of this size is a real possibility.

Details about the platform

Now, Ant has its brand-new blockchain platform, Trusple. The name comes from the words “trust made simple,” and it is based on the firm’s blockchain, Antchain.

The platform allows users to upload their trading orders, and generate smart contracts automatically. Additional information, such as logistics, is all created automatically, which makes the process faster and easier for interested users.

In addition, users can also include different vendors which sell to other businesses, and use various marketplaces like AliExpress.

Ant is also known for the highest number of submitted blockchain patents over the last two years.



Show More

Leave a Reply

Your email address will not be published. Required fields are marked *