Ant International, the overseas arm of Jack Ma’s Ant Group Co., is preparing to apply for stablecoin licenses in Singapore and Hong Kong. This move marks a strategic shift for the company as it aims to leverage blockchain technology for cross-border payments and treasury management services. 2023 alone saw Ant process over $1 trillion in global transactions, with its Whale platform playing a significant role in optimizing international fund flows. The company’s stablecoin efforts are rooted in its recent pivot away from its previously dominant lending business in China, which was impacted by regulatory scrutiny after the abrupt halt of its record-breaking IPO in 2020.