Chinese Fintech Targets Venom Blockchain to Advance Digital Finance Modernization

Acquisition Negotiations: A leading Chinese fintech company is in talks to acquire technological solutions from the Abu Dhabi-based Venom Foundation, aiming to integrate its blockchain infrastructure into China's digital finance systems.

Regulatory Alignment: The move aligns with China's push for modernization in financial services, as highlighted by recent regulatory guidance encouraging the use of blockchain and AI to enhance the real economy.

Venom's Capabilities: Venom's Layer-0 blockchain protocol can process around 150,000 transactions per second, making it attractive for applications like cross-border settlements and carbon credit tracking, especially for Chinese firms under the Belt and Road Initiative.

Broader Trends: This potential deal reflects a trend of Chinese companies seeking overseas technology to meet domestic policy goals, with implications for various sectors including supply chain financing and green finance.