Ant Group collaborates with Circle to integrate USDC stablecoin into global blockchain platform

Ant International, the global arm of #AntGroup (backed by Jack Ma), is partnering with Circle Internet Group Inc. to integrate USDC stablecoin into its blockchain platform after USDC achieved regulatory compliance in the U.S.

Expanding blockchain and stablecoin operations

This plan is part of Ant International's ambition to introduce more regulated cryptocurrencies, such as central bank stablecoins and tokenized deposits, onto their blockchain platform. This platform currently supports treasury management and cross-border payment services.

The acceptance of stablecoins is increasing after the U.S. Senate passed legislation regulating USD-pegged cryptocurrencies. #Circle , the publicly listed stablecoin issuer, is one of the main beneficiaries of this trend. Ant International is also seeking to obtain stablecoin licenses in Singapore, Hong Kong, and Luxembourg.

Ant Group processed over $1 trillion in global transactions last year, with one-third processed by their blockchain. Ant's blockchain platform currently supports various tokenized assets from banks and organizations around the world and has signed collaboration agreements with more than 10 global banks such as HSBC, BNP Paribas, JPMorgan Chase & Co., and Standard Chartered Plc. #jackma