On June 12, Bloomberg reported that the international division of Ant Group - a leading Chinese financial technology group - is planning to apply for a stablecoin issuance license in two major financial centers, Hong Kong and Singapore.
In response to the information, Ant International confirmed that they are accelerating investments and expanding cooperation in global fund management, while actively applying advanced technologies such as artificial intelligence (AI), blockchain, and stablecoin to large-scale, practical, and reliable products and solutions.
A representative from Ant International said: "We welcome the Hong Kong Legislative Council's passage of the stablecoin regulation bill. As soon as the bill officially takes effect on August 1 and registration channels are opened, we will submit a stablecoin license application as soon as possible. Ant International hopes to make a positive contribution to building Hong Kong into an international financial center in the future."
Ant Group - the parent company of Alipay and one of the largest fintech groups in Asia - entering the stablecoin market in Hong Kong and Singapore demonstrates a strategic vision to leverage the clear and digital asset-friendly legal environment in these two regions. At the same time, this also reflects the trend of large global financial technology groups seeking to expand their operations in the blockchain and cryptocurrency field through official legal frameworks.
