Ant International has been reported plans to apply for Stablecoin Issuer licenses in Singapore and Hong Kong, which has signed a growing institutional cryptocurrency to fintech firms.
Ant International, a unit based in Singapore by Jack MA-Back Ant Group, is preparing to submit a Hong Kong license application after the Stablecoin City Regulation framework According to In a Bloomberg report citing anonymous resources. The company is expected to pursue similar licensing efforts in Singapore and Luxembourg.
The ant group is an affiliate of the Chinese conglomery team, who owns and operates the largest digital payment platform worldwide, Alipay, which serves more than 80 million merchants and 1.3 billion users worldwide.
The transition emphasizes rising confidence in traditional fintech players in the global regulatory regulation for stablecoins, which is increasingly used for payments and regulating digital property.
Related: NASDAQ listed in Interactive Strength launches $ 500M AI token Treasury with Fetch.ai
The news complies with the passage of the Stablecoin Ordinance Bill, the first Hong Kong licensing regime for Fiat-based Stablecoins, on May 21, which is set to have a full impact on August 1.
Under the new regime, Stablecoin issues must obtain a license from the Hong Kong Monetary Authority (HKMA) for the issuance of Stablecoin. Noncompliance will be penalized by a fine of up to 5 million dollars of Hong Kong ($ 640,000).
Related: Bitcoin’s new high as Trump says the US-China Trade ‘Deal is done’
Ant International to Leverage Stablecoins for Cross-Border payments, Treasury Management
Ant International aims to adopt stablecoins for financial operations, including cross-border payments and Treasury management services.
During 2024, a third of the $ 1 trillion value of global transactions was processed through the whale -based whale platform, resources stated.
Ant International also holds the transactions of e-commerce affiliate, Alibaba.
The Ant Group and its affiliates have previously shown interest in blockchain and tokenization solutions. In December 2024, Ant digital partnerships In the Sui Layer-1 blockchain to token real-world assets related to environmental, social and management space.
$ 1 trillion stablecoin supply next big crypto market catalyst for 2025?
The news will come days after the total Capitalization of the StableCoin market exceeding $ 250 million all-time high for the first time in the week, Delete Data displays.
Stablecoin’s global supply could exceed $ 1 trillion before the end of 2025, which potentially become the next significant catalyst for the growth of the cryptocurrency market, according to David Pakman, in charge of the Crypto-dedicated investment firm Coinfund.
“This is the main catalyst that has been missing for more than a decade: a major human onchain wealth movement that carries others,” Pakman said during Cointelegraph’s Chainreaction Live show on X on March 27th.
Magazine: Older investors are at risk for a crypto -funded retirement
