Alipay's father, "Ant Group," wants to legally issue fiat-backed digital stablecoins in Singapore, Hong Kong, and Europe (Luxembourg), directly challenging USDT issuer Tether; even more aggressively, Ant aims to use these three financial strongholds as leverage to embed its blockchain technology into the global payment system, allowing European merchants to receive payments for Yiwu goods in Ant's Euro stablecoin, Hong Kong residents to scan Taobao with digital Hong Kong dollars in seconds, and even possibly reconstruct the traditional banks' stronghold over cross-border settlement hegemony! Specifically designed for doing international business—like opening a "global Alipay," but using blockchain technology.

💡 What impact could this have on us ordinary people?

In the future, when you buy foreign goods on Taobao, you might directly use the "electronic Hong Kong dollar" issued by Ant for payment (no need for currency exchange!)

However, when you shop with this electronic money in Singapore, Ant Group will know everything (centralized monitoring risk).