Cloud computing company JD Cloud signed a strategic cooperation agreement with digital currency trading platform Huobi on June 28. The cooperation will focus on blockchain-based technology, applications in finance and IoT, and data services, according to a report by local media (in Chinese).

Vice president of JD.com He Gang said the company decided to corporate with Huobi after a heated debate and it has no plans to work with other cryptocurrency trading platforms so far.

JD isn’t the only tech giant that is eyeing blockchain technology. Ant Financial, Alibaba’s financial affiliate, launched a blockchain-based remittances service between Hong Kong and the Philippines that will hugely reduce the remittance costs.

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Jiefei Liu

Jiefei Liu is a Beijing based tech reporter. She focuses on the union of tech and content creation and loves agriculture. You can write to her at Jiefei@technode.com