Jack Ma's prophecy comes true: Does Digital Money redefine currency? Ant Group lays out plans for stablecoin applications in multiple regions!

Fast forward to 2020, during the famous speech at the Bund in Shanghai, Jack Ma made a bold prediction: "Digital Money may redefine currency, just as the iPhone redefined the phone, with calling being just a function." At that time, this statement was seen as a challenge to the TradFi system, which indirectly triggered a series of regulatory storms that halted Ant Group's record IPO. However, the course of history is always full of drama. Nearly five years later, Jack Ma's prophecy seems to be accelerating towards reality in an unexpected way. Ant Group, founded by Jack Ma, is actively seeking stablecoin issuer licenses in multiple key financial centers around the world for its independently operated overseas business "Ant International," including Hong Kong, Singapore, and even Luxembourg in Europe. This series of actions not only marks the stunning turnaround and overseas rebirth of this tech giant after undergoing domestic regulatory restructuring, but also sends a strong signal: Digital Money represented by stablecoins is stepping out of the speculative realm of cryptocurrencies and is about to become a core tool for reshaping global payment and financial infrastructure, taking center stage in mainstream commerce. seizing the stablecoin Since the halt of the IPO case worth up to $34.5 billion by Chinese regulators in 2020, Ant Group has been forced to make profound business adjustments, shifting its focus from domestic consumer finance to a technology platform centered on enterprise services and international markets. During this transformation process, "Ant International," headquartered in Singapore, has become the new growth engine. Ant International not only generated nearly $3 billion in revenue in 2024 but has also achieved profitability for two consecutive years, demonstrating robust growth momentum. Recently, the company established an independent board of directors in preparation for potential spin-offs and independent listings. It is noteworthy that Ant International is not merely talking about blockchain; its technological strength has already taken shape. The global payment platform under the company processed over $1 trillion in transaction volume last year, with about one-third completed through its self-developed blockchain system "Whale." This indicates that Ant has been deeply engaged in the blockchain infrastructure field for many years, laying a solid technological foundation for its stablecoin strategy. Ant International's stablecoin strategy is clear and swift: first, it aims to seize the opportunity in Hong Kong, applying for a stablecoin issuer license immediately after the Hong Kong "Stablecoin Regulation" officially comes into effect on August 1 this year and the licensing system is implemented; second, it plans to establish an Asian hub, with plans to apply for relevant licenses in another financial center, Singapore; third, it aims to enter the European market, focusing on Luxembourg, intending to use it as a springboard to enter the compliant financial market in Europe. This move shows that Ant Group is actively incorporating stablecoins into its core cross-border payment and corporate financial solutions. Currently, Ant International has signed cooperation agreements with more than 10 major global banks, including HSBC, BNP Paribas, JPMorgan Chase, Standard Chartered Bank, and Deutsche Bank. By issuing its own compliant stablecoin, Ant will be able to provide more efficient and lower-cost global fund settlement services for its vast e-commerce ecosystem (especially Alibaba) and partner corporate clients. The Prelude to the Payment Revolution

The actions of Ant Group are not an isolated case; they happen to echo a common direction that global retail and tech giants are exploring. It is reported that American retail leader Walmart and e-commerce giant Amazon are also actively assessing the possibility of issuing their own USD stablecoin. Their core motivation is surprisingly consistent: to bypass traditional credit card networks and save on hefty transaction fees. Currently, merchants must pay around 1.5% to 3.5% in "interchange fees" to card organizations and banks such as Visa and Mastercard for each credit card payment they accept. For giants like Walmart and Amazon, which have annual sales often exceeding hundreds of billions of dollars, this fee can amount to tens of billions of dollars each year, representing a significant cost. However, if stablecoins are used for payment, the situation will be completely different. For example, a stablecoin transfer on an efficient public chain (like Solana) may have a transaction fee as low as $0.00025, which is almost negligible. In addition to the significant cost advantage, stablecoins can reduce the fund settlement time in traditional payment systems, which typically takes several days, to just a few minutes. This has revolutionary significance for improving the cash flow efficiency of businesses, especially in cross-border trade. It is worth mentioning that the ambitions of the giants require a key catalyst - a clear regulatory framework. And this "tailwind" seems to be on the way. U.S. Treasury Secretary Scott Bessent recently stated at a Senate hearing that he believes the industry's expectation of the stablecoin market size expanding to over $2 trillion in the coming years is "very reasonable." Behind this prediction is the acceleration of major global economies to legislate for stablecoins: The GENIUS Act in the United States: The U.S. Congress is advancing the GENIUS Act, which aims to provide clear rules for the issuance and operation of stablecoins, requiring issuers to hold a 1:1 reserve of high-quality assets (such as U.S. Treasury bonds) and comply with stringent anti-money laundering (AML) and know your customer (KYC) regulations. New stablecoin regulations in Hong Kong: Hong Kong is set to implement its Stablecoin Ordinance in August, establishing a comprehensive licensing system. An assistant involved in US legislation explained, "Without clear regulation, large merchants won't easily take risks." The introduction of these regulations has cleared the biggest obstacles for large companies pursuing compliance, such as Ant Group and Walmart, to enter the stablecoin market. Prophecies come to reality Looking back at Jack Ma's prediction from years ago, its core lies in "redefinition." Today, we can see that stablecoins are "redefining" the cost, speed, and efficiency of payments. They are no longer just tools for cryptocurrency investors to hedge or trade but are becoming the underlying infrastructure used by large multinational corporations to optimize their global capital flows in the real economy. Ant International's move to apply for stablecoin licenses in multiple locations around the world is a microcosm of this grand transformation. It resonates with the explorations of Walmart and Amazon, collectively sounding the horn to challenge the traditional payment hegemony of Visa, Mastercard, and others. Once hindered by challenges to the financial order, Ant Group is now riding the wave of global regulation, attempting to realize its ambition of "redefining money" on the international stage in a more compliant and constructive manner. This time, it may truly have the opportunity to become a leader in this global digital finance innovation. Jack Ma's prophecy is gradually coming to fruition.