According to a report by “The Block,” Chinese internet financial services company Ant Group’s blockchain department, “Ant Digital Technologies,” has increased the registered capital of two subsidiaries. The financial technology giant has confirmed to The Block that Ant Blockchain Technology (Shanghai) Limited recently amended its business registration, increasing its registered capital from 100 million RMB to 1.5 billion RMB (approximately $206.4 million). This blockchain department was established in December 2018 with business operations including software development, hardware retail, and information technology services.
Ant Digital Technologies’ another subsidiary, Ant Chain (Shanghai) Digital Technology Co., Ltd., also increased its registered capital from 100 million RMB to 2.1 billion RMB (approximately $288.9 million).
A spokesperson for Ant Digital Technologies stated in an email reply that although China banned all cryptocurrency trading on the mainland in September 2021, the country still maintains an open attitude towards local blockchain technology and the digital economy. Chinese tech giants like Alibaba and Tencent are focusing on developing their own consortium chains. For instance, Ant Group launched its blockchain brand, Ant Chain, in July 2020. In September 2023, Ant Digital Technologies introduced its overseas blockchain brand, ZAN.
Ant Digital Technologies is also part of a blockchain industry community established in Hong Kong in May, aimed at developing wholesale central bank digital currencies and tokenization.