China's Ant Digital puts $8 billion worth of energy assets on blockchain

China's electronic payments firm Ant Group appears to be accelerating the digitization of assets using blockchain.

On the 9th (Korean time), Bloomberg reported that Ant Digital, a subsidiary of Ant Group, connected energy infrastructure assets worth 60 billion yuan (about 8.4 billion dollars) to its own blockchain, 'AntChain.'

The company is currently recording the power generation and operating status of 15 million renewable energy devices such as wind and solar using blockchain.

The company's future plan is to issue tokens linked to these energy assets, and it has already raised 300 million yuan in funding for three projects.

Furthermore, Ant Digital plans to enable fractional trading of energy assets through tokenization and is also considering listings on overseas decentralized exchanges.

Earlier last year, Ant Digital tokenized EV charging stations and solar assets in collaboration with Longshine Tech and GCL Energy Technology.