Ant International, a unit of Ant Group, is set to seek stablecoin issuer licenses in Singapore and Hong Kong, showcasing the increasing adoption of cryptocurrencies by fintech firms. The company, affiliated with Alibaba Group, aims to apply for licenses in Hong Kong following the city's stablecoin regulatory framework implementation in August. Ant International also plans to pursue similar licensing in Singapore and Luxembourg. This move reflects the growing confidence of traditional fintech players in the evolving global regulatory environment for stablecoins, which are gaining popularity for payments and digital asset settlements. The news comes after Hong Kong passed the Stablecoin Ordinance bill, establishing the first licensing regime for fiat-based stablecoins. Ant International intends to utilize stablecoins for financial operations like cross-border payments and treasury management services, with a significant portion of its transactions processed through its blockchain-based Whale platform. The stablecoin market is expected to exceed $1 trillion by the end of 2025, potentially driving further growth in the cryptocurrency market. Read more AI-generated news on: https://app.chaingpt.org/news