NEAR Foundation has partnered with Chinese e-commerce giant Alibaba to develop and accelerate the growth of Web3 in Asia, Coindesk reports.
The NEAR Foundation said today that it has partnered with Alibaba Cloud, the computing and storage arm of Chinese e-commerce giant Alibaba, to accelerate Web 3 growth in Asia and the Middle East.
Offering new possibilities to users, the partnership also allows users to use the NEAR Blockchain Operating System (BOS), a platform it launched earlier in the year that allows developers to interact with other users while using Alibaba Cloud's infrastructure.
Raymond Xiao, head of Alibaba Cloud International Web3 solutions, said in his statement:
“The NEAR Foundation and Alibaba Cloud partnership is an important one as we continue to support Web3 developers to explore opportunities.
This partnership is also important for developers and validators in Asian markets as they can leverage Alibaba Cloud's extensive infrastructure in Asia.”
After the news of the partnership with Alibaba, there was an upward movement in the price of NEAR Protocol (NEAR).
NEAR, which is up 13%, continues to trade at $1.52.
*Not investment advice.