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One platform for global traditional assets
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Layer 1 blockchain Pharos, founded by former executives from Ant Group and Alibaba, announced it has received strategic investment from GCL New Energy, with the company's valuation approaching $1 billion. Pharos aims to build a payment-grade, high-throughput L1 network, with core team members who previously led the development of Alipay's critical payment architecture. GCL New Energy stated that this investment is aimed at exploring the application of blockchain technology in green energy finance and the digitalization of renewable assets.