Ant International, a Singapore-based subsidiary of Jack Ma’s Ant Group, is preparing to apply for stablecoin issuer licenses in Hong Kong and Singapore, signaling a deepening commitment to regulated digital asset infrastructure, according to a Bloomberg report.
The move highlights the growing interest among traditional fintech firms in entering the stablecoin ecosystem as global regulatory frameworks mature. Sources cited in the report indicated that Ant International may also explore licensing opportunities in Luxembourg.
Hong Kong’s new stablecoin rules draw corporate attention
The licensing effort in Hong Kong comes in the wake of the city’s newly enacted Stablecoin Ordinance, which establishes a legal framework for fiat-backed stablecoin issuance. Passed on May 21, the ordinance will come into full effect on August 1.
Under the new regime, stablecoin issuers must be licensed by the Hong Kong Monetary Authority (HKMA), with penalties for noncompliance reaching up to HK$5 million (approximately $640,000 USD).
Ant International’s licensing initiative reflects a strategic move to position itself early in what could become a highly regulated and competitive space for digital currency issuance.
Stablecoins to power cross-border payments, treasury operations
Ant International reportedly plans to leverage stablecoins in its financial services, particularly for cross-border payments and treasury management. These initiatives would align with the company’s ongoing investments in blockchain infrastructure.
In 2024, roughly one-third of the firm’s $1 trillion in global transaction volume was processed via its proprietary blockchain platform, Whale. The platform also facilitates payments for e-commerce transactions conducted by Alibaba, Ant’s corporate affiliate.
Ant Group deepens blockchain investment strategy
The latest developments continue Ant Group’s longstanding interest in blockchain technology and digital asset tokenization. In December 2024, Ant Digital partnered with Sui, a Layer-1 blockchain, to tokenize real-world assets focused on environmental, social, and governance (ESG) use cases.
With its Alipay platform already serving over 1.3 billion users and 80 million merchants globally, Ant Group’s expansion into regulated stablecoin issuance may further integrate blockchain-based financial tools into mainstream commerce.
Stablecoin supply surge could fuel crypto’s next bull run
The news arrives as the global stablecoin market continues to gain momentum. On Sunday, total stablecoin market capitalization surpassed its previous all-time high, exceeding $250 billion, according to DeFiLlama data. Some analysts believe the stablecoin sector may hit a $1 trillion market cap before the end of 2025.