🇨🇳 Chinese fintech giant joins the RWA race with new Layer 2

At TOKEN2049 Dubai, Ant Digital Technologies (a subsidiary of Ant Group) announced it will develop Jovay - an L2 blockchain specialized in handling real-world assets (RWA) with the goal of converting trillions of USD of illiquid traditional assets into globally tradable digital tokens.

Jovay will operate as Layer 2 for the AntChain ecosystem, connecting through the AntChain Bridge and utilizing DTVM technology (DeTerministic Virtual Machine) - a new generation virtual machine supporting AI, processing transactions quickly, and fully compatible with Ethereum.

The launch of Jovay also marks another giant entering the RWA wave on Ethereum, following names like BlackRock, Fidelity, Sony, Deutsche Bank, Visa,...