Share this article
Jack Ma’s Ant Group Agrees to Restructure After Pressure From China’s Regulators: Report
Regulators have been clamping down on Ant Group, even cancelling its expected $35 billion twin IPO late last year.
Updated Sep 14, 2021, 11:55 a.m. Published Feb 3, 2021, 3:58 p.m.
Chinese regulators have agreed on a restructuring plan with Ant Group that will combine all its business segments, including its blockchain arm, into a financial holding company.
STORY CONTINUES BELOW
- As a financial holding company, Ant would be subject to capital requirements like those for banks, according to a Bloomberg report citing people familiar with the matter.
- The group had previously proposed only including its financial segments in the holding company.
- An official announcement on plan is expected before the start of China’s New Year holiday on Feb. 12.
- The restructure is part of a Chinese government campaign to increase supervision of the fintech sector.
- In November, Ant Group’s expected $35 billion initial public offering was suspended on both the Shanghai and Hong Kong stock exchanges supposedly due to changes in China’s regulatory environment for fintech firms.
- Jack Ma, who founded Alibaba and its affiliate Ant Group, had been keeping a low profile since October when he criticized China’s financial system and its state-dominated banking sector at a Shanghai event.
- Ant Group has its own blockchain, AntChain, building off it to launch a cross-border trading platform in September.
Read more: Jack Ma’s Ant Group, 3 Other Digital Banks Get OK to Operate in Singapore
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
State of Crypto: Policymakers Dominated Most Influential 2025
CoinDesk is unveiling its annual list of the individuals who have shaped the crypto industry and the discourse around it this year.
Top Stories
