The Jack Back Ant Group has been reported working with the USDC Issuer Circle to bring Stablecoin to its blockchain, according to a Bloomberg report published Thursday, citing unknown sources.
The Report Ant Group plans said to include USDC (USDC) in its blockchain after stablecoin became the US. The exact timeline for integration is currently unspecified.
The news follows recent reports that Circle has applied to establish a National Trust Bank In the US, among other responsibilities, will guard the USDC reserve of the firm on behalf of the US that provided it. The US Senate too Stablecoin regulatory bill passedThe Genius Act, in mid -June, will provide legal clarity for stablecoin providers.
The ant group’s interest in stablecoins is not completely new. Earlier this month, the firm cooperated with Chinese giant e-commerce JD.com to lobby the People’s Bank of China (PBOC) to Approve Chinese -based stablecoins.
The Circle did not respond to a request for comment from cointelegraph.
Related: Many see stablecoins climbing $ 2T in ‘some’ years: Ripple CEO
Ant Group’s blockchain efforts
Ant Group-Dating ant financial and best known for running the Alipay Super-App-is the affiliate of the E-Commerce Behemoth Alibaba fintech, supported by Jack Ma. The firm is processing more than $ 1 trillion annually on payments and is now running treasury, cross-border settlement, and tokenization services in the proprietary antchain blockchain.
According to reports since last month, Ant International has also been reported Plan to apply for stablecoin issuer licenses in Singapore and Hong Kong. By the end of last year, the Blockchain of Layer-1 Sui and Ant Digital have been reported cooperating To token real-World assets with focus on property in environmental, social and management.
Related: South Korean Bank Stocks Surge on Stablecoin Trademark Filings
The circle continues to grow
The circle expands its global presence amid the growing clarity of regulation. With the development of the Genius Act through Congress and the rival stable law reported that -Sidelined, the company has launched many new initiatives.
On Tuesday, the firm cooperated with the Major Cryptocurrency Exchange OKX to enhance liquidity for USDC Stablecoin conversions in the US Dollar In launching Feessions of Feess. Circle shares have been Largest weight in Vaneck’s Digital Asset Corporate Index in late June.
In mid -June, Coinbase’s derivatives cooperated with Clearinghouse Nodal Clear with Bring Circle’s USDC Stablecoin to US Futures markets as a corresponding collateral.
Circle CEO Jeremy Allaire Also It was said last month that it would not be long before Stablecoins reached the level of attraction of the developer achieved by the iPhone. “The highest form of money utility created,” he said, which refers to the stablecoins.
Magazine: Bitcoin vs Stablecoins Showdown approaches as the Genius Act approaches
