Jovay Network, a previously low-profile Ethereum Layer 2 (L2) solution backed by Ant Digital—an Alibaba subsidiary—has recently garnered widespread attention after highlighting its Ethereum integration in a recent social media announcement.
Although the announcement caught many investors by surprise, Jovay Network was initially introduced as an Ethereum L2 platform during the RWA Real Up conference held in Dubai last April. The project positions itself as a financial-grade blockchain infrastructure, designed explicitly to support global real-world asset tokenization through a “modular Layer 2 architecture that bridges Web2 and Web3 environments.”
Jovay’s architecture aims to enhance scalability and interoperability, enabling easier integration between traditional web platforms and decentralized blockchain applications. The network currently holds approximately $50 million in total value locked (TVL), according to its blockchain explorer, but has processed only around 16,600 transactions so far, indicating early stages of network activity.
Ant Digital represents the blockchain division of Alibaba Group, one of the world’s largest technology conglomerates. Ranked as the 30th-largest global company by market capitalization with an estimated valuation of $385 billion, Alibaba is also China’s second-largest corporate entity. The group’s interest in blockchain technology dates back to 2019, when Alibaba Cloud introduced its blockchain-as-a-service (BaaS) platform aimed at improving supply chain management, particularly in areas like product traceability.
Jovay’s launch under Ant Digital signals Alibaba’s continued commitment to expanding its blockchain footprint, particularly by leveraging Ethereum’s ecosystem for scalable and secure financial applications tied to real-world assets. As the Ethereum network faces ongoing demand for improved throughput and cost-efficiency, Layer 2 solutions such as Jovay are becoming increasingly critical in accommodating broader adoption.
Despite its relatively low transaction count to date, Jovay’s emergence into public focus reflects growing interest in Layer 2 infrastructures backed by major corporate entities. Observers will be watching closely as Jovay develops its platform capabilities and expands its use cases within and beyond China’s burgeoning blockchain sector.
