From Cointelegraph

June 12, 2025 05:21 AM:

Ant International, a unit of Ant Group, plans to apply for stablecoin issuer licenses in Singapore and Hong Kong, following regulatory frameworks. Ant Group, affiliated with Alibaba Group, operates Alipay, the largest digital payment platform globally. This move reflects increased confidence in stablecoins for payments and digital asset settlement.

Under Hong Kong’s Stablecoin Ordinance bill, stablecoin issuers must obtain a license from the HKMA for issuance, with fines up to $640,000 for noncompliance. Ant International aims to use stablecoins for cross-border payments and treasury management, processing a third of its $1 trillion transactions through blockchain-based platforms in 2024.

The global stablecoin market capitalization recently exceeded $250 million for the first time, with predictions of surpassing $1 trillion by the end of 2025. This growth could be a significant catalyst for the cryptocurrency market, attracting more investors. David Pakman of CoinFund sees this as a crucial movement of wealth into the crypto space.

Read more at CoinTelegraph: Jack Ma’s Ant Group Seeks Stablecoin License in Hong Kong, Singapore