Ant Group to Launch Stablecoins in Asia: Expanding Footprint in Blockchain Space

Ant Group, the international arm of Jack Ma’s Ant Financial, is set to launch stablecoin services across major Asian financial hubs, according to a Bloomberg report. This move marks a significant shift for one of the world’s largest payment processors, which facilitated over $1 trillion in global transactions last year. The Singapore-based unit plans to apply for a stablecoin issuer license in Hong Kong upon the launch of the city’s new Stablecoins Ordinance in August, with licenses also sought in Singapore and Luxembourg.