Ant International, the global fintech arm of Jack Ma’s Ant Group, is preparing to apply for stablecoin licenses in Hong Kong and Singapore—two of Asia’s most progressive crypto regulatory markets. The move highlights growing momentum among traditional financial firms to enter the regulated stablecoin space, as both regions roll out comprehensive licensing frameworks aimed at legitimizing digital payment infrastructure.
According to sources cited by Bloomberg, Ant International intends to file its application in Hong Kong after the city’s new Stablecoin Ordinance takes effect on August 1. The legislation, passed in May, introduces a formal licensing regime under the Hong Kong Monetary Authority (HKMA), with penalties of up to HK$5 million (~$640,000) for noncompliance. Ant is also reportedly eyeing similar approvals in Singapore and Luxembourg, positioning itself to operate across multiple global financial centers.
Backed by Chinese tech giant Alibaba and operating from Singapore, Ant International runs the Whale blockchain platform and oversees a large portion of the company’s international payments and treasury functions. Its parent company, Ant Group, is also the force behind Alipay, the world’s largest digital payments platform with more than 1.3 billion users and 80 million merchants globally.
The company’s foray into stablecoin licensing comes as institutional adoption of blockchain-based payment systems accelerates. With stablecoins increasingly viewed as a core component of cross-border finance and digital asset settlement, Ant’s entry could pave the way for wider fintech participation in tokenized financial services.
Ant Plans Stablecoin Integration for $1 Trillion Network
Ant International is preparing to integrate stablecoins into its core financial operations, with a particular focus on cross-border payments and treasury management. The move reflects a broader strategic shift by the Jack Ma-backed fintech giant to deepen its use of blockchain technology across global finance.
Sources familiar with the matter say Ant processed roughly one-third of its $1 trillion in annual global transactions via its proprietary blockchain platform, Whale, during 2024. Whale now serves as the backbone for a significant portion of Ant’s payment rails, especially in international commerce—an area that includes transaction services for Alibaba’s sprawling e-commerce ecosystem.
The company’s interest in tokenized finance is not new. Ant and its affiliates have long explored blockchain-based infrastructure, and in December 2024, Ant Digital partnered with the Sui layer-1 blockchain to tokenize real-world assets linked to ESG (Environmental, Social, and Governance) initiatives. These steps signal a growing commitment to on-chain finance, as Ant looks to position itself at the forefront of regulated digital money systems.
By integrating stablecoins into its treasury and payments architecture, Ant is not just modernizing its internal operations—it’s making a calculated bet that stablecoins will become a cornerstone of global financial infrastructure.
$1T Stablecoin Market Could Spark Next Bull Run
The global stablecoin market has quietly hit a major milestone—and could be on track to become crypto’s next big growth engine. According to DeFiLlama data, the total stablecoin market cap has now exceeded $250 billion for the first time, marking a new all-time high. Analysts say this momentum may be just the beginning.
David Pakman, managing partner at crypto investment firm CoinFund, believes stablecoins could surpass $1 trillion in circulation by the end of 2025. Speaking during Cointelegraph’s Chainreaction live show on X, Pakman framed this projected surge as the catalyst the industry has been waiting for:
“This is the major catalyst that’s been missing for over a decade—a major movement of people’s wealth on-chain that brings everyone else on.”
The implications are wide-ranging. As more wealth migrates to stablecoins, the infrastructure for on-chain finance—from payments to DeFi to remittances—stands to become more efficient and accessible. Stablecoins offer real-time settlement, borderless transactions, and programmable utility—all without the volatility that plagues traditional cryptocurrencies like Bitcoin or Ethereum.
Quick Facts
- Ant International plans to apply for stablecoin licenses in Asia.
- Hong Kong’s new Stablecoin Ordinance takes effect August 1.
- Whale blockchain now handles one-third of Ant’s $1T transactions.
- Stablecoin market cap just passed $250 billion, per DeFiLlama.
- Experts forecast $1 trillion in stablecoins by end of 2025.
