According to "The Block" report, Ant Digital Technologies, the blockchain arm of Chinese online financial services company Ant Group, has increased the registered capital of two subsidiaries.
Ant Blockchain Technology (Shanghai) Co., Ltd. recently revised its industrial and commercial registration to increase its registered capital from RMB 100 million to RMB 1.5 billion (approximately $206.4 million), the fintech giant has confirmed to The Block. The blockchain unit was established in December 2018 and registered business operations include software development, hardware retail and information technology services.
Ant Chain (Shanghai) Digital Technology Co., Ltd., another subsidiary of Ant Digital Technology, also previously increased its registered capital from RMB 100 million to RMB 2.1 billion (approximately US$288.9 million).
A spokesperson for Ant Digital Technology said in an email response:
"Due to business development needs, the board of directors of Ant Digital Technology has approved an increase in the registered capital of Ant Blockchain Technology (Shanghai) Co., Ltd."
Although China banned all cryptocurrency trading on the mainland in September 2021, the country remains open to homegrown blockchain technology and the digital economy—Chinese tech giants like Alibaba and Tencent are focusing on developing their own alliances chain. For example, Ant Group launched the blockchain brand Ant Chain in July 2020. In September 2023, Ant Digital Technology launched its overseas blockchain brand ZAN.
Ant Digital Technology is also part of Hong Kong’s blockchain industry community established in May to develop wholesale central bank digital currencies and tokenization.
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