Wanxiang Group, a conglomerate with automotive, real estate and financial services holdings, announced that it has launched WanCloud, which is a new blockchain product under Wanxiang Blockchain Corporation subsidiary, Bitcoin Magazine reported.

The new blockchain project WanCloud is unique and allows users to work with open-source blockchains more easily and in one place. This will stand out from traditional BaaS (Blockchain-as-a-Service) providers that have private networks or build on top of one public chain, by planning to continually introduce useful open-source platforms into the WanCloud ecosystem.

“WanCloud is not just a technical platform; it’s an open innovation platform,” Haifeng Xi, CTO of WanCloud, told Bitcoin Magazine. “WanCloud is essentially a bridge between [the] global blockchain development community and China. We aim to connect the world to the Chinese developer community, Chinese startups and traditional Chinese businesses.”

WanCloud offers an ecosystem for open-source blockchain protocols to be localized and made easily accessible to the Chinese development community. The initial blockchain protocols include developers and consultants BlockApps, Factom and Stellar.

“This partnership is important for Factom China because it will make it easier for our product to reach and serve the needs of the end users in China. WanCloud is really adding value, helping us localize the platform for enterprise users and the large community of developers in China,” Zeen Zhang, CEO of Factom China, said.

In addition to the launch of WanCloud, Wanxiang announced the opening of the second cohort of its Chainbase Accelerator to startup firms in coordination with Shanghai-based Initial Crypto-Token Offering platform ICOAGE. The selected startups to the accelerator will have an opportunity to receive technical support and consulting from WanCloud architects.