Stablecoin News – Singapore-based Ant International announced it is “seriously considering” stablecoin license applications across multiple jurisdictions to enhance global payment efficiency, as reported.
The Jack Ma-backed fintech, known for Alipay, aims to leverage stablecoins to reduce transaction costs and settlement times for cross-border payments, a market valued at $130 billion annually.
The announcement, reiterated on July 11, underscores Ant’s strategic push into the $253 billion stablecoin sector.
Stablecoins, pegged to fiat currencies like the U.S. dollar, offer instant, low-cost transfers compared to traditional systems like SWIFT, which average $9.61 for a $200 remittance.
Ant’s focus on compliance aligns with global trends, such as the EU’s MiCA framework and the U.S.’s GENIUS Act, which mandate reserve transparency and KYC/AML adherence.
Ant’s potential integration of Circle’s USDC, as reported, could enhance its platform’s interoperability.
The move follows Ant’s success in digital payments, serving over 1 billion users via Alipay. Stablecoins could streamline remittances and e-commerce transactions, particularly in Asia, where Ant operates extensively.
However, regulatory challenges, including China’s crypto ban and varying global standards, pose risks. The BIS’s June 24 warning about stablecoin financial stability risks further complicates Ant’s ambitions.
Ant’s pursuit of licenses signals a maturing stablecoin market, but success depends on navigating diverse regulations and competing with established issuers like Tether. If successful, Ant could redefine global payments, leveraging stablecoins to bridge Web2 and Web3 finance.
