Ant Group announced that its self-developed database product OceanBase will start operating as an independent company and Ant Group's CEO Hu Xiaoming will be chairman of the new company.

It is said that the new company will release a major version upgrade in 2020 and it plans to serve over 10,000 global enterprise clients over the next three years.

In regards to the independent company operation of OceanBase, Ant Group said that technology is the gene of Ant Group and it is also the important strategic direction of the group. During the ten years development, OceanBase overcame various challenges and showed imaginative performance. They hope this new database can serve more partners.

Public files show that OceanBase was developed in 2010 and it is a world-leading database product. OceanBase started technical service export from 2017, covering finance, traffic, railway, and aerospace sectors.