Ant International is considering applying for stablecoin licenses in several countries, as discussed during the Reuters Next Conference in Singapore.
The company is reportedly targeting stablecoin licenses in Hong Kong, Singapore, and Luxembourg. Kelvin Li, who leads platform technology at Ant International, stated that the firm views stablecoins as a means to streamline international payments and enhance the user experience.
This aligns with reports from Bloomberg indicating that the company anticipates adopting USDC once it meets US compliance requirements. Based in Singapore, Ant International aims to expand beyond China, focusing on improving global payment systems as a central part of its strategy.
Moreover, the company is exploring support for other digital currencies, including central bank digital currencies and tokenized bank deposits. Last year, Ant processed over $1 trillion in global transactions, with approximately one-third conducted on its blockchain.