Interest in the Cryptocurrency market continues to grow in China, known for its ban on Bitcoin (BTC) and cryptocurrency.
The latest move at this point came from Ant Digital, a subsidiary of Chinese electronic payments company Ant Group.
Founded by world-renowned businessman Jack MA, Ant Digital powers around $8.4 billion worth of energy assets in the blockchain, according to Bloomberg.
Therefore, the news reported that ANT Digital is connecting 60 billion yuan (approximately $8.4 billion) of energy infrastructure assets to its own blockchain, “Antchain.”
The company has issued tokens to enable trading in energy assets, adding that it is also considering a list of foreign decentralized exchanges.
Therefore, the company will tokenize energy assets and raise investments by selling them on decentralized exchanges outside of China.
The initiative includes connecting operational data to its own blockchain, the Ant Chain blockchain, from over 15 million renewable energy equipment, including wind turbines and solar panels.
The company’s three renewable energy projects have already raised 300 million yuan ($42.1 million) through tokenization. The next step is to issue tokens associated with these assets.
Earlier last year, ANT Digital partnered with Longshine Tech and GCL Energy Technology to tokenize EV charging stations and solar assets.
*This is not investment advice.
