Alibaba Subsidiary Drives Attention to its Ethereum Layer 2 Blockchain

Jovay Network, an Ethereum Layer 2 (L2) network backed by Ant Digital, a subsidiary of Alibaba, is catching eyes today after it proclaimed its alignment with Ethereum on social media.

Despite many investors being surprised by the news, Jovay was originally revealed as an Ethereum L2 in April at the RWA Real Up conference in Dubai.

Jovay touts itself as financial-grade blockchain infrastructure, focused on global real-world asset (RWA) tokenization via its “modular Layer2 infrastructure that bridges Web2 and Web3.”

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