Ant Digital puts $8.4B of Chinese green energy assets on its blockchain

Ant Digital, the tech arm of Jack Ma’s Ant Group, is tokenizing $8.4 billion worth of energy assets to create a globally accessible green energy market.

Summary

• A division of Jack Ma’s Ant Group is quietly tokenizing clean energy assets in China
• The company plans to issue RWAs based on energy assets and open them up for investment
• Plans to list these tokens globally are pending regulatory approval

China’s biggest multinational firm is quietly moving to put energy infrastructure valued at over 60 billion yuan, or $8.4 billion, on the blockchain. According to a September 9 report by Bloomberg, Ant Digital, the tech arm of Jack Ma’s Ant Group, has been collecting data from infrastructure such as wind turbines and solar panels and uploading the data to its AntChain network.

The company plans to issue real-world asset tokens based on this infrastructure, which would enable it to secure financing for clean energy development. According to Bloomberg, some of these tokenization efforts have already begun.

Ant Digital is also considering listing these tokens on decentralized exchanges. Notably, this could enable investors from all over the world to gain exposure to China’s push toward clean energy. Still, the company did not wish to comment on the plan, as the move largely depends on approval from Chinese regulators.

China’s green energy push

Despite accounting for the largest share of fossil fuel emissions in the last 20 years compared to any other country, China is investing heavily in renewable energy. According to a report from Renewable Capacity Statistics, renewable energy currently accounts for over 50% of Chinese energy generation capacity.

China sees renewable energy as its ticket to energy independence due to a lack of domestic oil reserves. Chinese authorities also cited their commitment to renewable energy goals as the main reason for their 2021 ban on crypto mining.