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#GateRedBullRacingTour# - 📢 Gate releases its latest Reserve Audit Report!
💰 Total reserves: $10.453B
🟢 Excess reserves: $1.96B — ensuring full coverage and extra security for user assets.
Gate continues to uphold 100% proof-of-reserves and full transparency.
🔗 Read the full report: https://www.gate.com/zh/announcements/article/45617
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- #Gate Latest Proof of Reserves Reaches 10.453 Billion Dollars#
Gate has released its latest Proof of Reserves report! As of June 2025, the total value of Gate’s reserves stands at $10.453 billion, covering over 350 types of user assets, with a total reserve ratio of 123.09% and an excess reserve of $1.96 billion.
Currently, BTC, ETH, and USDT are backed by more than 100% reserves. The BTC customer balance is 17,022.60, and Gate’s BTC balance is 23,611.00, with an excess reserve ratio of 38.70%.The ETH customer balance is 386,645.00, and Gate’s ETH balance is 437,127.00, with an excess reserve
Ant unit plans to apply for stablecoin issuer license in Hong Kong
(Reuters) -Ant Group, an affiliate of China's e-commerce giant Alibaba, plans to apply for a license to issue stablecoins in Hong Kong through its overseas arm Ant International, the subsidiary said in a statement on Thursday.
Last month, Hong Kong's legislature passed a stablecoin bill that establishes a licensing regime for fiat-referenced stablecoin issuers in Hong Kong.
Stablecoins, a type of cryptocurrency designed to maintain a constant value, usually pegged to a fiat currency such as the U.S. dollar, are commonly used by crypto traders to move funds between tokens.
"We plan to apply for the fiat-referenced stablecoins (FRS) issuer's license once the process is open after the Stablecoins Ordinance takes effect on August 1," Ant International said in a statement.
The move was first reported by Bloomberg News, which also said Ant would seek to apply for a stablecoin licenses in Singapore and Luxembourg as well.
Ant was founded by billionaire Jack Ma and is 33% controlled by Alibaba. It operates China's ubiquitous mobile payments app Alipay.
(Reporting by Kanjyik Ghosh; Editing by Saumyadeb Chakrabarty)
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