DeutschJack Ma, China’s most dazzling entrepreneur, is back in the mix – this time in the area where Beijing prefers to keep its hands: the crypto business. His Ant Group, known for the Alipay payment service, has filed several trademark applications in Hong Kong – including the telling name «Antcoin». According to various media reports, the company wants to secure its rights in case the political climate changes and cryptocurrencies are one day allowed again in the Middle Kingdom.
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It is a step with a signal effect. Because while Beijing continues to strictly prohibit cryptocurrencies, Hong Kong is opening up more and more to digital assets. The city has been positioning itself for months as Asia’s crypto hub and wants to compete with Dubai or Singapore for the top position. Ant Group seems to be watching this development closely – and positioning itself cleverly before the next wave breaks.
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The trademark application covers several business areas: online payments, digital wallets, stablecoin emissions and transactions. The stablecoin sector is particularly explosive, as China recently stopped all attempts by larger tech companies to issue their own tokens. Beijing fears loss of control, while Hong Kong senses economic opportunities.
Ant Group is officially keeping a low profile. There is no talk of a token being launched anytime soon. In Hong Kong media, it is said that the applications are primarily for the protection of intellectual property – a kind of strategic bet on the future. Behind the scenes, however, the interest is likely to be far greater. As early as the summer, the company, together with Circle – the publisher of the stablecoin USDC – tested cross-border payments via blockchain technology.
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In September, Ant Group surprised again when it announced that it would tokenize energy plants worth $8.4 billion and bring them to the blockchain. Although these projects do not run directly under the «crypto» banner, they clearly show the direction in which the tech giant is moving: away from pure payment services, towards a digital financial infrastructure with global reach.
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But the balancing act is tricky. China has officially banned crypto trading, but tolerates Hong Kong’s ambitions. The Special Administrative Region may make independent financial decisions as long as it respects Beijing’s political guidelines. Ant Group is therefore skating on thin ice: too much proximity to crypto could cause trouble again – too little innovation would mean losing touch with global developments.
Jack Ma knows what’s at stake. After the harsh interventions by the Chinese authorities against Ant Group in 2021 and his own public restraint, the billionaire is cautiously feeling his way back onto the stage. The brand name «Antcoin» could be more than just a legal maneuver. It represents the attempt to bridge the gap between the old financial world and the new, tokenized economy – with one eye on the present and the other firmly on the future.
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Should Ant Group succeed in further expanding its blockchain projects in Hong Kong, the company could become a key figure in the next phase of the digital financial system – exactly where China has so far been hitting the brakes. (mck)
