Ant International Pursues Stablecoin Licenses in Hong Kong and Singapore
Ant International, the fintech arm of Jack Ma, is seeking licenses to issue stablecoins in Hong Kong and Singapore, with potential plans for Luxembourg. This initiative aligns with new regulations for fiat-backed stablecoins in these regions.
- Hong Kong's Stablecoin Ordinance will be effective from August 1, 2025, mandating licensing for issuers.
- Singapore has established its own regulatory framework for single-currency pegged stablecoins.
- Ant International aims to utilize stablecoins for cross-border payments and corporate treasury management.
- Last year, one-third of Ant’s $1 trillion transactions were processed through its blockchain platform, Whale.
- The push into stablecoins indicates Ant Group’s ambition to enhance its global fintech services.
- Ant International is also considering a stock listing in Hong Kong for greater global visibility.