Ant International targets stablecoin licenses in Asia
- Ant International, a unit of Ant Group, plans to apply for stablecoin issuer licenses in Hong Kong and Singapore.
- Hong Kong’s stablecoin regulatory framework will be effective from August, requiring issuers to obtain a license from the Hong Kong Monetary Authority.
- Noncompliance with the new regime could result in fines up to HK$5 million (approximately $640,000).
- Ant International aims to use stablecoins for cross-border payments and treasury management services.
- In December, Ant Digital partnered with Sui blockchain to tokenize assets related to environmental, social, and governance initiatives.
Ant International’s move reflects growing confidence among fintech firms in the evolving global regulatory landscape for stablecoins, which are increasingly used for payments and digital asset settlement.
The firm processed one-third of its $1 trillion transactions through its blockchain-based Whale platform last year, highlighting its commitment to blockchain solutions. (Source)
