Jack Ma's Ant Group is intensifying its blockchain and crypto initiatives, expanding from its AntChain alliance to Web3 tools like ZAN and DTVM. The company has launched Jovay, an Ethereum-based Layer 2 solution focused on real-world asset (RWA) applications, emphasizing compliance without issuing tokens. Financially, Yunfeng Financial has strategically invested in the Pharos public chain and acquired 10,000 ETH to explore compliant scenarios in RWA and insurance. Investment efforts have shifted from early-stage overseas ventures to infrastructure and compliance, forming a comprehensive 'technology-business-asset' loop. However, the group faces uncertainties due to tightening regulatory environments.