Ant International, the global arm of Jack Ma–backed Ant Group Co., is preparing to apply for stablecoin licenses in Hong Kong, Singapore, and Luxembourg, signaling a major leap forward in the company’s blockchain and cross-border payments strategy. The move, reported by sources familiar with the matter and confirmed by a company spokesperson, aligns with Ant’s vision of scaling its global fintech operations while navigating increasingly favorable regulatory frameworks.
Targeting Leading Crypto Hubs
In an effort to tap into progressive digital asset regulatory environments, Ant International will first apply for a fiat-referenced stablecoin issuer license in Hong Kong. The city’s newly announced Stablecoins Ordinance, effective August 1, 2025, mandates that all issuers of Hong Kong dollar–pegged stablecoins must be licensed by the Hong Kong Monetary Authority (HKMA).
Following its Hong Kong application, Ant plans to pursue similar licenses in Singapore and Luxembourg both of which are emerging as global leaders in regulated Web3 finance. These jurisdictions not only offer regulatory clarity but also serve as strategic footholds into the Southeast Asian and European financial landscapes.
Whale Blockchain and Treasury Expansion
The licensing initiative comes as Ant expands its blockchain-powered cross-border payment system, known as Whale. In 2024, the platform processed more than $1 trillion in transactions, with nearly a third of that activity taking place on blockchain infrastructure. Stablecoin issuance would further enhance Whale’s efficiency and reach, enabling faster settlements and reduced reliance on traditional banking rails.
The stablecoin play also feeds into Ant’s broader treasury expansion efforts, helping the firm manage liquidity across multiple markets while offering its users low-cost, stable-value digital payment options.
A Shift Away From China, Toward Globalization
Ant Group has faced significant regulatory scrutiny in China over its online lending and consumer finance operations. As a result, the company has turned its focus outward, with Ant International now operating semi-independently and headquartered in Singapore. Reports indicate that the firm is also preparing for a potential spinoff and IPO, as it continues to distance itself from domestic pressures and builds a global presence.
Ant’s entry into the regulated stablecoin space represents a major turning point for the company, potentially positioning it as a leader in compliant Web3 finance a space increasingly dominated by institutions.
Final Thoughts
By applying for stablecoin licenses in Hong Kong, Singapore, and Luxembourg, Ant International is making a bold bet on the future of regulated crypto finance. These efforts are more than just regulatory maneuvers they reflect a clear pivot to become a global force in digital payments, backed by compliant, blockchain-powered solutions. As Web3 infrastructure matures, Ant’s strategic positioning could help redefine the landscape of cross-border finance.
