Chinese fintech giant Ant Financial has launched its own blockchain vehicle in Shanghai.
Ant Blockchain Technology (Shanghai) Co., Ltd. (蚂蚁区块链科技（上海）有限公司) unveiled the official sign for its office headquarters in Shanghai’s Huangpu district on the morning of 25 February according to domestic media reports.
According to the reports Ant Blockchain Technology and Ant Shuanglian Technology (Shanghai) Co,. Ltd. (蚂蚁双链科技（上海）有限公司) were both established in 6 December 2016 by Ant Financial’s fully invested subsidiary Hangzhou Ant Future Technology Co., Ltd. (杭州蚂蚁未来科技有限公司), whose contributed capital stands at 100 million yuan.
Ant Financial is concentrating its R&D facilities in the Huangpu district of Shanghai, which is host to several of its wealth management and fintech subsidiaries.
The legal representative of Hangzhou Ant Future Technology is Cheng Li (程立), Ant Financial’s Chief Technology Officer and a founding veteran of the company who first joined Alipay in 2005.