Ant International Eyes Stablecoin Expansion in Asia

Ant International, the global arm of Jack Ma’s Ant Group, is preparing to enter the stablecoin market in Asia’s key financial hubs. The company plans to seek regulatory approval to issue stablecoins in both Hong Kong and Singapore, positioning itself for a broader role in the growing digital finance landscape.

Sources close to the matter say the firm is waiting for the formal implementation of Hong Kong’s stablecoin legislation, expected this August, before submitting its application. Singapore is also on the list, with its own regulatory framework under consideration. Ant is reportedly exploring additional licensing opportunities in Europe, particularly in Luxembourg, known for its fintech-friendly environment.

Stablecoins—digital tokens typically pegged to fiat currencies like the U.S. dollar—have become a focal point for regulators looking to strike a balance between innovation and stability in the crypto space. Ant’s move suggests it aims to align with regulatory standards early, gaining a foothold in jurisdictions emphasizing oversight and consumer protection.

By pursuing licenses in these regions, Ant International is signaling a strategic pivot toward compliant digital asset services, potentially paving the way for a regulated version of Alipay or other payment innovations backed by blockchain technology.