Alipay becomes an Ethereum L2On Oct. 14, the Chinese fintech giant behind Alipay’s 1.4 billion-user payment network launched Jovay, a new Layer-2 (L2) blockchain built atop Ethereum to move real-world assets (RWAs) on-chain at institutional scale.
The implications are vast.
Alipay has 1.4 billion monthly active users and handles trillions in payment volume annually. If even a fraction of that activity migrates to Ethereum rails through Jovay, the network could become one of global finance’s most consequential infrastructure bridges.
According to Jovay’s technical paper,
the network achieved 15,700 – 22,000 transactions per second (TPS) during testnet trials and targets 100,000 TPS through node clustering and horizontal expansion.
Jovay’s debut also reflects Ethereum’s slow conquest of institutional trust. What once looked like a volatile experiment has become a neutral settlement layer that banks and fintech giants can rely on without ceding control.
https://cryptoslate.com/ethereum-to-onboard-1-4b-new-users-as-chinese-alipay-megacorp-launches-own-l2/