Jack Ma's Crypto Foray: From Building AntChain to Purchasing Ether

Yunfeng Financial, the Hong Kong-listed fintech group, disclosed on 2 September that it had bought 10,000 ETH (approximately US$44 million) in the open market with internal cash and booked the holdings as an investment. The purchase follows a 1 September strategic cooperation with Ant Digital and an investment in the Pharos public chain, which the company said aims to promote RWA tokenization and Web3 scenarios. The article also covers Ant Digital's AntChain-related products, including the Jovay Ethereum Layer 2 released on 30 April 2025 with no native token, and the DTVM toolkit open-sourced in April 2025.