According to Bloomberg, Ant International, the international division of fintech giant Ant Group, plans to apply for licenses to issue stablecoins in Hong Kong, Singapore, and Luxembourg. In Hong Kong, the application will be submitted after the new stablecoin law comes into effect on August 1, 2025. This move is part of the company's strategy to expand its Whale blockchain platform, which processed a third of $1 trillion in global transactions for Ant in 2024.
Ant International, based in Singapore, aims to strengthen its position in cross-border payments and treasury management by using stablecoins to enhance efficiency and transparency. The company is collaborating with Deutsche Bank to manage the reserves of stablecoins and tokenized deposits. This aligns with the global trend, as the stablecoin market reached $255 billion in 2025.
Regulatory clarity in Hong Kong and Singapore makes these jurisdictions attractive for Ant. Successful licensing could open new opportunities for Alipay, which serves over 1 billion users. Subscribe to #MiningUpdates for the latest news!
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