Ant Group, a subsidiary of Alibaba Group, plans to expand its presence in the global stablecoin market by obtaining the necessary licenses in several key jurisdictions. The first step will be to apply for stablecoin issuer status in Hong Kong after the new legislation comes into effect in August 2025.
This is reported by Бізнес • Медіа
Expansion Plans in Asia and Europe
In addition to Hong Kong, the company is also preparing to submit similar applications in Singapore and Luxembourg. This approach will allow Ant Group to strengthen its position in blockchain technologies, which have already become an integral part of the company’s financial services.
Stablecoins and the Company’s Strategy
According to sources, last year Ant Group facilitated transactions totaling over $1 trillion, with about a third of that amount processed through its own blockchain platform, Whale. Company representatives confirmed that they will apply for stablecoin issuance in Hong Kong, emphasizing that these digital assets will be pegged to fiat currencies.
“Journalists noted that the company confirmed its intentions to apply in Hong Kong, specifying that the stablecoins will be pegged to fiat currencies.”
It is worth noting that global interest in stablecoins is growing—recently, the U.S. Senate voted to advance a bill regulating this asset class, further underscoring the relevance of the topic.