Alipay’s parent company, Ant Financial, recently joined forces with Israeli technology investment company MizMaa Ventures, software development giant VMware, and US Reinsurance Group subsidiary RGAX to invest in an Israeli blockchain startup called QEDIT, a company specializing in R&D blockchain privacy for companies. This A-round of financing involved $10 million USD and was led by MizMaa Ventures.
QEDIT provides solutions for companies that do not need to disclose confidential transaction details and comply with regulatory requirements when transferring blockchain assets. For example, when reviewing credit and risk scores, it does not disclose personal data to calculate the score. After completing the A-round of financing, QEDIT will improve the system and expand the sales and partner team.
Geoff Jiang, vice president of Ant Financial Services, said in a press release that the company and QEDIT have a common vision for protecting data privacy and security, especially when it comes to financial development. Protecting privacy is key. Chief Executive Jonathan Rouach added that this is an important step in the company’s development. Working with these investors, it can provide enterprises with sensitive data protection at the enterprise level and leverage the vision of partners to provide a high level of privacy protection.