Ant Financial, better known as AliPay, said that it had successfully tested a new payment service on the blockchain. Processing of the first payment took three seconds, reports Cointelegraph.
It is noted that the project was developed as the first service for the implementation of cross-border payments on the blockchain using an electronic wallet between Hong Kong and the Philippines.
“Starting from Hong Kong, the AliPayHK service will extend to the rest of the world in the future,” commented Jack Ma, founder of the company.
He also noted that the implementation of the blockchain for the cross-border transfers was of most concern to him over the past six months.
Previously, Ant Financial has attracted $ 14 billion to develop blockchain-based solutions. The company noted that it would direct the attracted funds to such areas as blockchain, AI, security, Internet of things and so on.