Jack Ma-backed Ant Group Eyes Stablecoin Permits in Asia and Europe

Ant Group''s international division is preparing to enter the regulated stablecoin market by seeking licenses in Hong Kong, Singapore, and Luxembourg. The MOVE aims to bolster its blockchain-powered treasury and cross-border payment services, expanding its fintech reach beyond mainland China.

Applications will coincide with Hong Kong''s upcoming Stablecoins Ordinance, set for August 2025 implementation. The Whale platform, handling $1 trillion in annual transactions, serves as the technological backbone for these ambitions, leveraging tokenization and privacy-enhanced blockchain transfers.

This strategic pivot occurs as global regulators intensify scrutiny of stablecoins. Financial hubs like Hong Kong and Singapore are developing frameworks to mitigate systemic risks while accommodating innovation in digital assets.