The 401(k) plan is a key tool for retirement savings in the U.S., and allowing cryptocurrencies within its structure could fundamentally change the long-term investment landscape in the country.
Analysis: This decision could be a breakthrough for institutional adoption of crypto assets, providing a direct channel for their integration into the retirement portfolios of millions of Americans. It will also increase demand for cryptocurrencies from asset management firms and funds.
Ant Financial Launches Jovay Blockchain, Token Release Not Currently Planned
The head of the digital division of Ant Financial (part of the Alibaba Group) announced the launch of a new blockchain called Jovay, which is set to be operational by September 2025. The project will focus on transparent and scalable B2B solutions in the financial sector.The release of a proprietary token is not currently being considered, emphasizing the focus on corporate applications and compliance with regulatory requirements.
Analysis: Jovay is part of Ant Financial's strategy to create an independent infrastructure that can compete with solutions based on Ethereum and other public networks. The emphasis on corporate products and the decision to forgo a token release make the project compliant with Chinese regulations and pave the way for integration into Alibaba's financial ecosystem.
