Ant International plans to ask for licenses of stablecoin issuers in Singapore and Hong Kong, reporting an increasing adoption of institutional cryptocurrency among Fintech companies.
Ant International, a unit based in Singapore of the Ant -supported group, supported by Jack MA, is preparing to submit a license request to Hong Kong after the city’s regulatory framework of the city took effect in August, according to a Bloomberg report citing unidentified sources. The company should continue license efforts similar to Singapore and Luxembourg.
Ant Group is an affiliate of the Chinese conglomerate Alibaba Group, who has and operates the largest digital payment platform in the world, Alipay, serving more than 80 million merchants and 1.3 billion users worldwide.
This decision highlights the increase in confidence among traditional Fintech actors in the global regulatory landscape in maturity for stabbed, which are increasingly used for payments and the regulation of digital assets.
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The news follows the adoption of the Stable Ordinance Bill, the first Hong Kong license regime for the Stablescoins based on Fiat on May 21, which should come into force on August 1.
As part of the new regime, Stablecoin transmitters must obtain a license from Hong Kong Monetary Authority (HKMA) for the program of Stablecoin. Non-compliance will be liable to a fine of up to $ 5 million in Hong Kong ($ 640,000).
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Ant International to take advantage of stablescoins for cross -border payments, cash management
Ant International seeks to adopt stablescoins for its financial operations, in particular cross -border payments and cash management services.
In 2024, a third of the $ 1 billions in world transactions in the company were treated through its blockchain-based whale platform, sources said.
Ant International also manages the transactions of its electronic commerce affiliate, Alibaba.
Ant Group and its affiliates have previously shown interest in blockchain and tokenization solutions. In December 2024, Ant Digital joined the Blockchain Suis Layer-1 for Tokenize real world active ingredients linked to the environmental, social and governance space.
1 Billion of dollars stablecone supply big big crypto market catalyst for 2025?
The news occurs a few days after the total Stablecoin market capitalization exceeded the highest $ 250 million for the first time on Sunday, according to Defilma data.
The global offer of Stablecoin can exceed 1 dollars billion before the end of 2025, potentially becoming the next significant catalyst for the growth of the cryptocurrency market, according to David Pakman, director of the Coinfund cryptocurrency investment company.
“This is the major catalyst that has been missing for more than a decade: a major movement of the richness of people who brings everyone,” said Pakman during the live program of Cointelegraph live on X on March 27.
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