Ant International to Apply for Stablecoin License in Hong Kong as Expansion Widens

Highlights:

• Ant International plans to apply for licenses connected to stablecoins in three areas this year.
• The Whale platform processed one-third of Ant’s global payments using its own blockchain network in 2024.
• Countries like the US and South Korea are moving fast to set rules for stablecoins and digital asset operations.

Ant International, an international payments firm, plans to apply for a stablecoin license in Hong Kong, a special administrative region of China. The company plans to apply for the license when the city’s new framework takes effect in August. The company’s Singapore-based unit will lead the application as part of its broader push into global digital payments.

Ant Group Seeks Stablecoin Licenses in Hong Kong and Singapore

Ant Group’s international division is preparing to apply for stablecoin licenses in both Hong Kong and Singapore.#Crypto #Investing #AntGroup #HongKong #Singapore pic.twitter.com/uNk1RXcMA6

— Orange (@bitorange_) June 12, 2025

Hong Kong has attracted strong interest from firms seeking clear and supportive environments for digital currencies. The city is rapidly emerging as a hub of such activity, and its future framework will unlock the possibility for licensed issuers.

This step is part of the expanding activities of Ant outside China. After canceling its initial public offering in 2020, the company refocused on enterprise services and international markets. It now aims to firmly establish itself in cross-border payments, particularly in platforms where funds transfer needs to be quicker and more efficient. The Hong Kong license will be important in powering that strategy.

The initiatives of Ant International, a firm related to Jack Ma, come after two years of profitability and approximately $3 billion in foreign revenue in 2024. It also has established an autonomous board in anticipation of a potential initial public offering of its foreign division.

Expansion Strategy Targets Singapore and Luxembourg for Stablecoin Licenses

Ant International is also preparing to seek licenses in Singapore and Luxembourg. These regions serve as global financial hubs and offer strategic value for digital currency operations. By pursuing permits in these areas, the company aims to build a solid base for its growing treasury and payment services.

Its digital infrastructure relies heavily on Whale, a blockchain platform that now processes a large volume of global transactions. Whale processed more than $1 trillion in payments in 2024 alone, and a third of those payments were made using the blockchain network of the company. The system has proved vital in facilitating the demands of global enterprises, in particular, those related to e-commerce.

The Whale platform is a combination of blockchain, artificial intelligence, and privacy-oriented computing. The combination contributes to increasing the transaction speed and enhancing its security and transparency. Such tools enable Ant to provide payment services that businesses operating across borders require.

Global Stablecoin Rules Accelerate Amid Ant’s Strategic Pivot

Some countries are also formulating their policies on stablecoin licenses as Ant continues to push forward. In the United States, legislators brought the GENIUS Act a step closer to a final vote on June 11. It will be a move towards regulating the operation of stablecoins in the financial system.

JUST IN: 🇺🇸 The Senate has passed the cloture motion on the Hagerty substitute amendment to the GENIUS Act by a 68-30 vote, and will proceed to vote on the bill. pic.twitter.com/pS41k9YjOP

— Bitcoin.com News (@BTCTN) June 11, 2025

In the meantime, South Korea presented the Digital Asset Basic Act on June 10. The action boosts local initiatives to launch stablecoins that are pegged to local currencies. It is also based on a promise by President Lee Jae-myung to promote digital innovation. Ant International is still in the process of complying with locations that establish transparent frameworks around digital assets. The company is trying to take action now to consolidate its position in a rapidly expanding industry of cross-border payments and digital coins.