The fintech behemoth has confirmed that Ant Blockchain Technology (Shanghai) Co. has lately changed its business registration with Chinese regulators, boosting its registered capital to 1.5 billion yuan ($206.4 million) from 100 million yuan.

Established in December 2018, the blockchain department is registered to run companies in hardware retail, information technology services, software development, etc.

Another Ant Digital Technologies subsidiary, Ant Chain (Shanghai) Digital Technology Co., had earlier raised its registered capital to 2.1 billion yuan ($288.9 million) from 100 million yuan, the business said.

China prohibited all cryptocurrency transactions on the mainland in September 2021; however, the nation is open to homegrown blockchain technology and digital economies; Chinese tech titans like Alibaba and Tencent are focused on building their own consortia blockchains.

For instance, in July 2020, Ant Group introduced Ant Chain as its blockchain trademark. Ant Digital Technologies debuted its international blockchain brand ZAN in September 2023.

Along with Hong Kong’s blockchain community created in May to develop wholesale central bank digital currency and tokenization, Ant Digital Technologies is also a member.

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