Ant Group Co. is making waves in digital finance. Its international unit, Ant International, plans to apply for stablecoin licenses in Singapore, Hong Kong, and Luxembourg. By leveraging stablecoins, Ant aims to enhance the speed and reduce the cost of cross-border transactions.
Ant Group Expands Global Reach with Stablecoins
Ant International, headquartered in Singapore, is actively seeking licenses in prominent financial centers to enhance its blockchain-based Whale platform, which currently processes transactions totaling $333 billion annually.
The company intends to submit its application in Hong Kong once the Stablecoins Ordinance is enacted in August 2025. This aligns with the new regulations that require issuers to maintain reserves in local banks and uphold a minimum capital of $3.1 million.
Singapore’s regulatory framework, enforced by the Monetary Authority of Singapore (MAS), is reportedly stringent and transparent, which positions it as a key destination for investment. Concurrently, Luxembourg provides a favorable environment for digital assets, serving as an effective entry point into the European market.
This strategy builds upon Ant Group’s established partnerships, including its collaboration with Deutsche Bank for tokenized deposits, which enhances real-time treasury management capabilities for global payments.
Institutional Interest in Stablecoins Soars
Ant Group is hardly the only company chasing stablecoin opportunities. For example, two days ago, Société Générale-Forge, a leading French bank, unveiled plans to launch a U.S. dollar-pegged stablecoin, USD CoinVertible (USDCV), through its crypto arm, SG Forge. Set to debut on the Ethereum and Solana blockchains, this initiative marks the first time a major European bank has issued a dollar-backed stablecoin on public blockchains.
Elsewhere, South Korea introduced a new regulatory framework for stablecoins, aiming to harness the nation’s vibrant crypto market while ensuring financial stability. The bill allows local firms with at least $368,000 in equity to issue reserve-backed stablecoins, tapping into a market that saw $40.6 billion in trading volume in Q1 2025.
Ant Group’s pursuit of stablecoin licenses in Singapore, Hong Kong, and Luxembourg appears to be a bold bet on the future of digital money. By tapping into blockchain’s potential, the firm is positioned to challenge other traditional financial payment firms.
