On June 12, Ant Group's Ant Digital Technology has started the application for a stablecoin license in Hong Kong, and it has already had multiple rounds of communication with regulators.
Leveraging Ant Group's strong e-commerce, payment, and other business sectors, the layout of stablecoins will undoubtedly further enhance its competitiveness.
Although countries are gradually improving regulations related to stablecoins, the uncertainty and diversity of regulation remain the main challenges Ant will face.