1. Who is collaborating with whom?
The company behind Alipay, founded by Jack Ma, 'Ant Group' wants to team up with Circle.
2. How are they going to collaborate?
Ant Group wants to integrate the 'USD stablecoin USDC' issued by Circle into its own blockchain system (AntChain).
3. When can it be used?
Still uncertain! We have to wait until USDC fully obtains regulatory 'clearance' in the U.S. Recently, the U.S. has also been discussing new rules for stablecoins.
4. Why is it important?
Ant Group is already quite powerful, processing an enormous transaction volume through Alipay every year (over $1 trillion!). It has always been interested in stablecoins (which are digital currencies with stable prices, like how 1 USDC is always worth 1 dollar), and previously proposed creating a RMB stablecoin with JD.com! Now it also wants to apply for stablecoin licenses in Singapore and Hong Kong.
5. How is it going on the USDC side? Circle has been quite busy lately: actively expanding its business in various countries. Collaborating with other exchanges to make it easier and cheaper to convert USDC to dollars. The company's stock is also favored by major institutions and showing strong upward momentum. The boss is very optimistic about the future of stablecoins, saying it will be 'the most practical money.'
Water Brother's Summary💦:
Ant Group (the parent company of Alipay) is planning to integrate Circle's USD stablecoin USDC into its own AntChain system as soon as U.S. regulators give the green light. This indicates that Ant is making significant moves in the blockchain and digital currency space, and USDC itself is becoming increasingly popular globally. Both sides are optimistic about the future of stablecoins!
Water Brother is fantasizing about what impact and benefits this will have on the domestic cryptocurrency market if it ultimately succeeds? What potential issues could arise? Brothers can discuss this together in the comments🩵 $SUI $BTC $USDC