According to ANT International planning to apply for Stablecoin’s edition licenses in Singapore and Hong Kong, indicating the adoption of an increasing institutional encrypted currency among high -tech companies.
Ant International, a unit from the ANT Group supported by Jack MA, based in Singapore, is preparing to apply for a license in Hong Kong after he entered the city’s organizational framework in August, in August, According to To the Bloomberg report, citing anonymous sources. The company is expected to follow similar licensing efforts in Singapore and Luxembourg.
Ant Group is one of the subsidiaries of the Alibaba Contraction Group, which owns and runs the largest digital payment platform in the world, Alipay, which serves more than 80 million merchants and 1.3 billion users worldwide.
This step emphasizes high confidence between the traditional Fintech players in the mature global organizational scene of Stablecoins, which are increasingly used for payments and the settlement of digital assets.
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The news follows the approval of the Stablecoin Decree Law, the first Hong Kong licensing system for Fiat -based Stablecoins, on May 21, which is scheduled to start with the full impact on August 1.
Under the new system, Stablecoin exporters must obtain a license from the Hong Kong Cash Authority (HKMA) to issue Stablecoin. Failure to comply with fines of up to $ 5 million from Hong Kong ($ 640,000).
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Ant International to take advantage of Stablecoins for Border Payments, Treasury
Ant International seeks to adopt Stablecoins for its financial operations, including border payments and treasury management services.
During the year 2024, a third of the global transactions of trillion dollars were treated through the Blockchain whale platform, according to the sources.
Ant International also deals with its transactions in e -commerce, alibaba.
The ANT group and its subsidiaries have previously shown Blockchain solutions and the distinctive symbol. In December 2024, Ant Digital has made a partnership with Sui Layer-1 Blockchain for the symbol of realistic assets related to environmental and social space and governance.
1 trillion dollars from StableCoin Supply Next Big Crypto Market Catalyst for 2025?
The news comes days after the size of the StableCoin Total Stablecoin market of $ 250 million ever exceeded for the first time on Sunday, Deville Data appears.
Stablecoin’s global supplies may exceed $ 1 trillion before the end of 2025, which may become the next important catalyst for the growth of the encrypted currency market, according to David Bakman, the administrative partner at Crypto-native Firm.
“This is the main catalyst that was missing for more than a decade: a great movement of people’s wealth that brings everyone,” Pakman said during Cointelegraph. Chain of interaction Direct offer on X on March 27.
magazine: Older investors risk everything for retirement from encryption
The post Jack Ma’s Ant Group Seeks Stablecoin License in Hong Kong, Singapore first appeared on Investorempires.com.
