Ant International targets licenses in Hong Kong, Singapore and Luxembourg to lead in regulated stablecoin infrastructure.
The Whale platform processes a third of Ant’s $1 trillion payments, using blockchain, AI and tokenized asset frameworks.
Stablecoin supply could hit $1 trillion by end-2025, becoming the key catalyst for crypto’s next major adoption wave.
Jack Ma pursues stablecoin licenses across Asia and Europe under Ant International, signaling fintech’s deepening crypto pivot amid global regulation.
REGULATORY PUSH MARKS A MAJOR STRATEGIC SHIFT
Jack Ma-backed Ant International, the overseas arm of Ant Group, is preparing to enter the regulated stablecoin market in earnest. The company is set to apply for stablecoin issuer licenses in Hong Kong, Singapore and Luxembourg, positioning itself to become a major player in the evolving digital currency ecosystem.
This move is not just symbolic. It reflects the rapid maturation of crypto regulation worldwide and underscores the growing confidence of traditional fintech giants in blockchain-based financial infrastructure.
Hong Kong’s upcoming Stablecoins Ordinance, due to take effect in August 2025, is a major catalyst. Under the new framework, issuers must obtain licenses or risk penalties of up to HKD 5 million (USD 640,000). Ant’s application is timed precisely to this rollout, highlighting its proactive approach in aligning with regulatory trends.
WHALE PLATFORM POWERS THE STRATEGY
Central to Ant International’s stablecoin expansion is the Whale platform – a blockchain-powered treasury and payment infrastructure currently handling over one-third of the company’s $1 trillion annual transaction volume.
The Whale platform supports tokenized assets, utilizes homomorphic encryption and AI, and enables secure, multiparty financial operations. Already connected with institutions like JPMorgan, HSBC, BNP Paribas and Deutsche Bank, it serves both Alibaba-linked entities and external clients.
This blockchain foundation allows Ant to integrate stablecoins into real-time treasury management, cross-border remittance and digital settlement in a highly scalable and compliant manner. Notably, Ant Digital also recently partnered with Sui blockchain to tokenize ESG assets, showcasing the group’s broader blockchain ambitions.
STABLECOIN MARKET NEARS $250 BILLION – WITH TRILLION DOLLAR POTENTIAL
The global stablecoin market has reached a $243 billion supply as of May 2025, according to DeFiLlama, and is on pace to cross the $1 trillion mark by the end of the year. This growth has been dubbed the “missing catalyst” by CoinFund’s David Pakman – a spark for broader onchain wealth migration.
In the U.S., Treasury Secretary Scott Bessent recently told Congress that regulated stablecoins could reinforce dollar hegemony. Vice President J.D. Vance described digital money as a vehicle for global economic power. These political endorsements show how stablecoins are moving from fringe fintech to tools of monetary influence.
Amid this wave, new entrants like PayPal’s PYUSD and the Trump-linked USD1 stablecoin are also fighting for market share. Both have adopted multi-chain interoperability and seek regulatory compliance, similar to Ant’s approach.
ASIA LEADS THE REGULATORY CHARGE
While U.S. legislation like the GENIUS Act nears passage, Asian jurisdictions have moved faster. In South Korea, the ruling party introduced the Digital Asset Basic Act on June 10 to support domestic stablecoin issuance. Singapore and Hong Kong, meanwhile, are already implementing dedicated frameworks.
This regional momentum suits Ant International, which operates out of Singapore and is structured independently from its China-based parent. The company’s governance shift – including a new independent board and financial separation – sets the stage for a potential IPO, while easing cross-border regulatory concerns.
Ant’s strategic targeting of Luxembourg also reflects a calculated entry into the European fintech corridor, giving it a foothold within the EU’s Markets in Crypto-Assets (MiCA) regime.
JACK MA’S COMEBACK VIA CRYPTO
While Jack Ma has stepped back from public view following regulatory crackdowns in China, Ant International’s recent moves signal a possible comeback – not through traditional banking, but through crypto-fintech convergence.
After the cancellation of Ant’s record-breaking IPO in 2021 and the subsequent regulatory scrutiny of its lending arm, the group pivoted toward blockchain. Now, with over a trillion dollars in payment volume and multi-continent licensing plans, Ant International is back in expansion mode.
Its timing is critical. With stablecoins emerging as key infrastructure in both traditional finance and decentralized ecosystems, early compliance offers both competitive advantage and long-term scalability.
〈Jack Ma Pursues Stablecoin Licenses〉這篇文章最早發佈於《CoinRank》。
