$ 14 billion in funding for Alibaba's Blockchain technology

Ant Financial, a subsidiary of Chinese Internet giant Alibaba, announced that it had collected $ 14 billion in the C series financing round to be used in the development of new technologies such as Blockchain.

Established in 2004 as AliPay and later changed to the name Ant Financial in 2014

According to Reuters, as China continues to hold on to the perceived risks to the financial system, Ant Firman, the business unit of Alibaba, will use the new capital financing to improve the company's technological capacity with IOT and IOT.

Both Ant Financial and Alibaba have developed many applications related to Blockchain up to now.

Ant Financial's CEO Eric Jing rejected the company's prospect of an ICO in March , Blo