Chinese Fintech Giant in Talks to Acquire Venom Blockchain Technology

Chinese media reports indicate a major fintech firm is negotiating to acquire blockchain technology from Abu Dhabi's Venom Foundation. The potential deal represents a significant cross-border transfer of distributed ledger technology into China's financial system, aligning with Beijing's push for modernization through AI and blockchain solutions.

Venom's architecture reportedly handles 150,000 transactions per second with sub-three-second settlement times. Its dynamic sharding technology and multi-environment support through EVM, WASM, and proprietary VIRTUAL machines make it particularly attractive for large-scale financial applications.

The discussions follow recent blockchain-related market movements, including OSL's share price surge after its acquisition announcement. Venom's built-in compliance features, including KYC and AML tools, address critical requirements for Chinese financial sector adoption.