Annual trading exceeds one trillion USD! Ant Group expands its stablecoin territory, partnering with Circle to introduce USDC?

According to reports, Ant Group, founded by Jack Ma, is collaborating with the US stablecoin issuer Circle to adopt the stablecoin USDC on its blockchain platform. Ant Group processed over one trillion dollars in global transactions last year, and as China is considering stablecoin cross-border payments, companies like JD and Ant are also planning to apply for licenses in Hong Kong to seize a share of the stablecoin payment market.

Ant Group plans to introduce USDC

According to a report by Bloomberg citing informed sources, Ant Group, founded by Jack Ma, is collaborating with the US stablecoin issuer Circle to adopt its stablecoin USDC on the blockchain platform of the Chinese fintech company.

This collaboration is also one of Ant International's ambitious goals, which is to introduce more regulated cryptocurrencies on its Blockchain, such as central bank-issued cryptocurrencies and tokenized deposits—this technology has now become the foundation of its fund management and cross-border payment services.

Ant Group processed over one trillion USD in global transactions last year, of which about one third was completed through its self-developed Blockchain system "Whale", showcasing the results of its deep cultivation in Blockchain infrastructure. Ant International is also seeking to apply for stablecoin licenses in Singapore and Hong Kong, and is applying for related permits in Luxembourg.

(Ant Group plans to apply for stablecoin licenses in Hong Kong and Singapore, targeting Asia's financial hubs ).

Processing one trillion dollars in transactions a year, the group's backing strength is astonishing.

Ant Group, formerly known as Ant Financial, was developed from Alipay, which was launched by Alibaba founder Jack Ma in 2004. In 2011, Alibaba spun off Alipay, establishing Ant Financial, which was later renamed Ant Group.

Ant Group's Alipay is still deeply integrated into Alibaba's major platforms such as ( Taobao, Tmall, etc. ), serving as its primary payment tool. Ant Group processed over one trillion USD in global transactions last year, demonstrating its growing potential.

Ant Financial's Blockchain platform currently supports various tokenized assets from banks and institutions around the world. The company has signed cooperation agreements with more than 10 banks globally, including HSBC Holdings plc, BNP Paribas, JPMorgan Chase & Co., and Standard Chartered Bank.

China is considering stablecoin cross-border payments, and JD.com and Ant Group are the first to apply for licenses in Hong Kong.

Although China has not officially accepted stablecoins and has全面禁止 cryptocurrency activities, it is facing increasing calls from policy advisors and economists to explore the use of stablecoins for cross-border payments.

People's Bank of China Governor Pan Gongsheng stated in June that stablecoins could fundamentally change international finance, especially in light of the geopolitical tensions that highlight the vulnerabilities of traditional payment systems. He warned that traditional payment systems could be politicized and used as tools for sanctions.

In this regard, Chinese economists are urging the development of alternatives linked to the renminbi. Jingdong's chief economist, Shen Jianguang, stated: "If China does not develop a stablecoin, it will effectively withdraw from the competition for the next generation of global currency dominance and hand it over to other countries."

Hong Kong has launched a regulatory framework for fiat-backed stablecoins, and companies such as JD.com and Ant Group are expected to apply for licenses. The potential benefits include reduced costs and settlement times for cross-border payments.

JD founder Liu Qiangdong told employees that the company plans to apply for stablecoin licenses in all major markets, reducing cross-border payment costs by 90% and shortening settlement times to under 10 seconds.

This article reports that the annual trading volume has exceeded one trillion USD! Ant Group expands its stablecoin territory, collaborating with Circle to introduce USDC? First appeared in Chain News ABMedia.