Ant Financial launches blockchain-powered money transfer service

AlipayHK, a venture that is partially owned by Jack Ma’s Ant Financial Services, has announced that it will begin offering a blockchain cash remittance service – the first of its kind globally. The service offers a fast, secure, efficient, low-cost method of transferring money directly between individuals, currently only available for transfers between Hong Kong and the Philippines, with a view to expanding the number and range of markets following further success. The money transfer platform has been launched in partnership with GCash through the company’s ewallet platforms, whilst Alipay itself developed the technology.

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