The new restrictions could curtail Ant's rapid growth 27 January 2021 • 3:37pm Jack Ma’s financial technology business Ant Group is set to undergo a major shake-up to become a financial holding company in order to satisfy Chinese regulators. Ant will transform itself from a technology business into a financial holding company subject to strict capital requirements and stronger banking regulations, according to The Wall Street Journal. Changing the structure of the business could threaten the development of Ant’s ongoing technology projects such as a blockchain service launched last year. The restructure could also curtail Ant’s fast growth, bringing its lending services into line with more traditional offers from established banks.