Jack Ma’s Alibaba Subsidiary Ant Unveil New Ethereum Layer2 Jovay

Jovay:- In a significant move for the development of crypto in the Chinese market, Ant Group and developer of AliPay, Ant Digital Technologies (an affiliate of Alibaba), has officially unveiled Jovay – a new Ethereum Layer 2 protocol tailored for real-world asset (RWA) tokenization and cross-border infrastructure.

Initially announced at the RWA REAL UP summit in Dubai May 2025, Jovay claims to deliver up to 100,000 transactions per second and 100 ms response times.

The chain is being developed in partnership with OSL’s regulation infra to drive institutional adoption of RWAs.

Ant Group’s New Layer2 RWA Chain – Jovay

Ant Digital Technologies –  formerly AntChain – is a subsidiary of Ant Group, the fintech affiliate of Alibaba Group.

Since June 2018, Jack Ma–linked Ant Group and Alibaba have focused on blockchain infrastructure and tokenized-asset platforms rather than retail crypto trading.

Through AntChain, launched in July 2020, they introduced blockchain-as-a-service (BaaS) tools for cross-border settlements, supply-chain tracking, and enterprise solutions.

Till now, it has largely focused on permissioned chains and private enterprise deployments. This partnership with OSL marks its first significant foray into public Layer-2 blockchain infrastructure.

Ant Digital’s new layer2 chain, Jovay built on Ethereum, is designed to interact directly with Ethereum and revolutionize the green financing.

Jovay – New RWA Chain Focuses on Renewable Products

According to the press release Block of Fame got access to,  Jovay is a newly launched Ethereum Layer2 blockchain developed by Ant Digital Technologies. Unveiled at the REAL UP RWA Summit in Dubai, it is purpose-built for tokenizing real-world assets.

It will particularly work in green finance – such as solar panels, EV charging stations, and battery infrastructure. Jovay will turn them into globally tradable digital tokens.

Jovay is powered by DTVM (DeTerministic Virtual Machine) which is a custom-built, Wasm-based and EVM-compatible smart contract. This was unveiled by Ant Digital a week ago. It’s optimized for high-throughput execution and integrates AI capabilities through tools like SmartCogent.

This allows for intelligent contract automation and lifecycle management. Thus, Jovay will enable high-speed, AI-assisted smart contracts and cross-border RWA transactions. Already live, Ant Digital hosts over 14 million tokenized green energy devices, making it the world’s largest platform of its kind.

The development of layer2 Jovay and its DTVM engine could lead to significant advancements in blockchain technology. This is especially for RWAs (real-world assets) and green finance.

Till now, sustainable infrastructure financing has been slow, fragmented, and tied to regional markets.

By tokenizing renewable products, Ant Group’s Jovay can increase scalability for clean energy infrastructure. This will also help in providing faster, efficient cross-border liquidity in renewable energy markets.

🌐Jovay joins hands🤝 with @ethereum to build the next era of Layer 2.

This is not just a step into the Ethereum ecosystem — it’s the beginning of a broader future.✨

Let’s build the next chapter together!#Ethereum #Layer2 #Jovay #RWA #Web3 pic.twitter.com/Lg7Xe73uNF

— Jovay Network (@JovayNetwork) October 14, 2025

Also Read: Next Bitcoin Price Target!

Jack Ma and Alibaba’s Quite Buildings In Crypto

This isn’t the first time a Jack Ma–linked entity has ventured into crypto and blockchain. Over the years, Alibaba and its fintech arm Ant Group have quietly explored Web3 infrastructure.

After China’s September 2021 crypto ban, Ant and Alibaba pivoted to international, regulated, and cross-border blockchain initiatives.

In January 2024, Ant International confirmed plans to apply for a stablecoin issuer licence in Hong Kong under the city’s new framework. It is also lobbying for yuan-pegged stablecoins aimed at offshore markets.

By June 2025, Ant also integrated Circle’s USDC onto its blockchain to ensure interoperability between global stablecoins and Ant’s tokenized payment platforms.

In September 2025, his company / affiliated firm Yunfeng Financial (in which he holds about ~ 11%) bought 10,000 ETH as part of his treasury / Web3 strategy. Last week the same firm invested $22 million in Series A of crypto life insurance firm, Anthea.

🟢 SΞR BREAKING: Yunfeng Financial (HKEX: 0376), co-founded by Jack Ma, has just acquired 10,000 $ETH.

They now enter the Strategic ETH Reserve dashboard at #27 pic.twitter.com/Uls9ZkHISL

— Strategic ETH Reserve (SΞR) (@SERdotxyz) September 2, 2025

Note: This article was published in May 2025 and was updated with latest information on 16th October, 2025.

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