Ant Group, the Chinese company behind the popular mobile payment platform Alipay, has increased the registered capital of its two blockchain subsidiaries to 3.6 billion yuan. This move, which was first reported by Chinese crypto news outlet ODaily and subsequently confirmed by Ant Group, reflects the company’s efforts to meet business needs. Ant Blockchain Technology (Shanghai) Co. now has a registered capital of 1.5 billion yuan, up from its previous 100 million yuan. Similarly, Ant Chain (Shanghai) Digital Technology Co. increased its registered capital from 100 million yuan to 2.1 billion yuan. Ant Group’s blockchain endeavors have also extended into digital currencies, with the company playing a central role in the distribution of JPM Coin, as outlined in a recent white paper by JPMorgan. Overall, these developments underscore Ant Group’s commitment to blockchain technology and its potential for transforming various industries.
Latest
Ant Group’s blockchain units increased registered capital to $500M
By
Henrik Lindqvist — Staff Reporter
About the author · Staff Reporter
Henrik Lindqvist
Henrik Lindqvist is our DeFi and on-chain reporter, splitting his time between Stockholm and London. A former software engineer at Klarna, he switched to journalism in 2021 and has since broken stories on MEV exploits, restaking risks and Layer-2 economics. Henrik writes the BTCNews weekly Layer-2 newsletter and has lectured on blockchain architecture at KTH Royal Institute of Technology.