The International Arm of Ant Group, the company supported by Alibaba founder Jack Ma, is planning to bring the Circle’s USDC Stablecoin to its owner.
Rollout will start once US regulators have proven the token to be dollar under the new federal rules, Bloomberg Reported, mentioning people familiar with the deal.
The move will give the USDC a link to a network processed by more than $ 1 trillion in the global payment last year, a third of them lived in the chain. That scale could make the largest corporate users overseas a US-insisted Stablecoin.
Ant International also applies for Stablecoin licenses in Singapore, Hong Kong and Luxembourg, according to the report. The group wants regulated digital dollars, central digital bank currency and bank deposits to sit next to its platform.
The company’s blockchain is currently supporting tokenized properties -owners from various financial institutions and have been reported to have been Working with the People’s Bank of China (PBOC) In the country’s digital bank’s digital currency (CBDC)The digital yuan.
Circle shares rose nearly 3.8% in pre-market trading to $ 208.
