Jack Ma-owned Ant has launched a new blockchain-based cross-border trade platform called Trusple. The platform by Ant will help small and medium-sized enterprises sell their products to their overseas clients.
The news of the platform comes as the company readies itself for a massive $35 billion IPO. Backed by Alibaba, Ant is looking to debut on Shanghai’s STAR market and Hong Kong’s market simultaneously in the world’s largest IPO.
Trusple is built on AntChain and automates the important aspects of payments process like tax liabilities and tax liabilities. The users of the platform could include vendors that sell to other businesses via marketplaces such as AliExpress. Trusple uses technologies like AI, IoT, and secure computation to tackle the biggest of payments trade issues. Businesses can sign up for the platform by signing up for it on the official website.
“Just like when Alipay was introduced in 2004 as the online escrow payment solution to build trust between buyers and sellers, with the launch of AntChain-powered Trusple, we look forward to making cross-border trading safer, more reliable, and more efficient for buyers and sellers, as well as for the financial institutions that serve them,” said Jiang Guofei, president of the advanced technology business group of Ant.
Reuters reports that Ant may have the world’s highest number of blockchain patent applications in the past two years.
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