Ant Financial launches blockchain-powered cross-border remittance service

Ant Financial, the financial services arm of Alibaba, has launched a cross-border remittance service that is powered by blockchain technology.
The service, which has been launched by the Hong Kong division of Ant Financial’s online payment platform AlipayHK and micro-payment service GCash, will operate through the companies’ e-wallet platforms to enable money transfers between people in Hong Kong and the Philippines.
The service will target Hong Kong’s large Filipino community