A division of Ant Group, the well-known Chinese financial tech firm, Ant Digital, is actively promoting its blockchain platform designed for asset tokenization within Hong Kong. This move comes just one week after the city formally enacted its new stablecoin regulations.
During a recent event in Hong Kong, Bian Zhuoqun, Vice-President of Ant Group and Head of Blockchain Operations at Ant Digital, described the company’s ambition to serve as a “portal,” seamlessly connecting the traditional Web2 world with the emerging Web3 landscape. According to Bian, this strategy aims to bring more reliable assets into Web3 and provide Web2 with access to more regulatory-compliant capital.
Back in April, Ant Digital unveiled Jovay, a completely proprietary Layer 2 public blockchain designed without any native cryptocurrency issuance, according to Bian. A blog post from Ant Digital at the time indicated that Jovay was specifically engineered to facilitate RWA transactions within international markets.
The official launch of Jovay, where it will begin handling “real money” transactions, is slated for September, Bian confirmed.