$BTC Ant Group and its related subsidiaries are applying for stablecoin licenses in places like Hong Kong and Singapore. Some are preparing, while others have already started the application process and are in communication with regulators. They are waiting for the relevant Hong Kong regulations to take effect in August in order to proceed, with the aim of expanding blockchain and other businesses to support financial development.

The Hong Kong Legislative Council has passed the "Stablecoin Bill," which will take effect on August 1. This indicates that the stablecoin industry is beginning to be regulated, moving away from the previous unregulated state where no one was overseeing it. From now on, everyone will have to follow the rules, which will create a safer and more orderly environment for the cryptocurrency sector. Moreover, global regulation of virtual currencies is tightening.

Ant Group has a large user base, significant financial resources, and advanced technology. Once they enter the stablecoin field, they will likely integrate AI and blockchain technologies with stablecoins, potentially creating new financial services. For instance, they could make cross-border payments more convenient, cost-effective, and efficient, bringing new development opportunities to the cryptocurrency sector. $BTC