Chinese fintech giant Ant Group expands blockchain units’ registered capital

Ant Digital Technologies, the blockchain arm of Alibaba’s fintech affiliate Ant Group, has expanded the registered capital for two subsidiaries, as the Chinese conglomerate continues its blockchain drive.

Founded in December 2018, the blockchain unit is registered to operate in businesses including software development, hardware retail and information technology services. While China banned all cryptocurrency transactions on the mainland in September 2021, the country remains open to homegrown blockchain technology and digital economies — with Chinese tech giants such as Alibaba and Tencent focusing on developing their own consortium blockchains.

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