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Alibaba Raised $ 14 Billion To Develop Blockchain Solutions

Blockchain technology

Ant Financial, a payment affiliate of the Chinese Internet giant Alibaba, announced the complete of the financing round C, in which the company managed to raise $ 14 billion for the further development of blockchain solutions. 

The details of Ant Financial's road map for the development of blockchain solutions are still unknown. However, other promising areas of the company's activities include the Internet of Things and Artificial Intelligence.

Fintehc company AliPay was founded in 2004. After re-branding in 2014, it was named Ant Financial. At present, the company is the leading payment provider in China. The client base of Ant Financial has 800 million active users.

In March, Ant Financial CEO, Eric Jing, said that the company will continue to develop solutions based on distributed ledger technology, and in particular, will focus on the compatibility of various blockchains.