Ant International is making moves to apply for stablecoin issuer licenses in Hong Kong, according to a Bloomberg report which cited sources familiar with the matter.
The company intends to submit its application once Hong Kong’s Stablecoins Ordinance takes effect in August 2025. It will also apply for similar licenses in Singapore and Luxembourg.
Hong Kong’s stablecoin regime is expected to offer greater clarity for stablecoin issuers and encourage institutional participation in the digital asset space.
Stablecoins, which are digital tokens typically pegged to fiat currencies, serve as a more stable alternative to volatile cryptocurrencies like bitcoin and ether. They are seen as a key on-ramp for traditional financial institutions and tech giants exploring blockchain use cases.
In other recent news, Ant International partnered with HSBC to launch a tokenised deposit solution and is also eyeing a Hong Kong IPO.
Ant International has not yet publicly commented on the Ant International stablecoin license plans, according to Coindesk.
Featured image: Edited by Fintech News Hong Kong, based on images by EyeEm via Freekpik, myriammira via Freepik, and TravelScape via Freepik
