A subsidiary of Alibaba Ant Financial has a tried and tested system of money transfers on the blockchain. June 25, Bloomberg reported that the transaction took three seconds. The company, formerly known as AliPay, has carried out a transfer of funds between your app AliPayHK (Hong Kong) and Philippine GCash payment application (it is a joint project of Alibaba and local telecommunications company Globe Telecom).

According to the head of Ant Financial’s Jack MA, is now in the Philippines is booming payment sector on the blockchain. Speaking at a press conference, he promised that in the future will deploy Ant Financial operations internationally. The website cnLedger quotes entrepreneur:

In the last six months the project cross-border money transfers was one of my priorities. We’ll start with Hong Kong, and subsequently service AlipayHK will be available worldwide… the Blockchain is not the technology of getting rich quick. 1.7 billion people on the planet still do not have Bank accounts. However, most of them have mobile phones. The blockchain can play in society a role that we never dreamed of.

According to the businessman, in recent years, AliPay is focusing increasingly on the blockchain: so, this month, a subsidiary AliPay Ant International has attracted $14 billion on blockchain development. At the same time, Magnat takes the position of a skeptic in regards to cryptocurrency: in may, he called them bubble.