Ant Group enters the Hong Kong market with stablecoin.

Recently, foreign media reported that Ant Group's international business department is planning to apply for a stablecoin license in Hong Kong, which has attracted widespread attention. Ant International responded to the media, stating that it is currently accelerating investment and expanding cooperation in global financial management, and is investing in the real and reliable large-scale application of AI, blockchain, and stablecoin innovations. This is the first public statement from Ant International regarding its compliance plans in the stablecoin field since the Hong Kong Special Administrative Region government announced the "Stablecoin Regulation" on May 30, 2025.
According to reports, Ant International welcomes the passage of the "Stablecoin Regulation" by the Hong Kong Legislative Council and will submit its application as soon as the bill comes into effect on August 1 and relevant channels are opened. In addition, Bian Zhuoqun, Vice President of Ant Group and President of Ant Digital Technology's Blockchain Business, revealed in an interview that Ant Digital Technology has initiated the application for a Hong Kong stablecoin license and has already engaged in multiple rounds of communication with the regulators. This year, Ant Digital Technology has listed Hong Kong as its global headquarters and has already completed a pilot in the regulatory sandbox in Hong Kong.
Bian Zhuoqun stated that stablecoins, as a bridge connecting traditional finance and tokenized assets, have broad market potential. Their core value lies in the expansion of use cases and compliance construction. Ant Group's Digital Technology is committed to building digital trading scenarios based on stablecoins, promoting the development of a new asset class centered around technology. At the same time, Ant Group's Digital Technology provides secure, reliable, and compliant infrastructure to create new incremental markets for stablecoin trading, enhancing trading efficiency and liquidity.
Ant Group's move has undoubtedly become the focus of industry attention. In March 2024, Ant International, OceanBase, and Ant Financial Technology were spun off from the group to operate independently in the market and established their own boards of directors. Regardless of which segment plans to apply for a stablecoin license, it is expected to strengthen Ant Group's blockchain business and provide support for related fields such as cross-border payments.
Hong Kong's Stablecoins Ordinance requires any institution that issues fiat currency stablecoins (e.g. stablecoins pegged to the Hong Kong dollar) in Hong Kong to apply for a licence from the Monetary Authority. In terms of reserve asset management, it is necessary to ensure that the stablecoin is pegged 1:1 to the fiat currency reserve, and the reserve assets need to be deposited in a licensed financial institution. In terms of redemption mechanism, users can exchange fiat currency at any time, and a transparent redemption process is required. The Hong Kong SAR Government's regulatory framework for stablecoins aims to promote financial innovation while ensuring financial stability and consumer protection. As an international financial centre, Hong Kong's stable regulatory framework provides a trusted endorsement for stablecoin businesses. Through the application of licenses through its subsidiaries, Ant Group can legally enter the Hong Kong market and expand cross-border payments, global treasury management and other scenarios.
Previously, Ant Group has long invested in blockchain and AI research and development, and its stablecoin business can be integrated with existing technologies to enhance cross-border payment efficiency. Some analysts believe that the cost of cross-border payments using stablecoins is only 1/10 of that of traditional SWIFT, with a single transaction arrival time of less than 1 minute. In countries like Nigeria and Peru, the volume of cross-border remittances using stablecoins has surpassed that of traditional banking channels. Besides Hong Kong, Ant Group may also set its sights on another Asian financial center, Singapore, as well as Luxembourg in the European market, to further expand the global influence of its stablecoin business.
The stablecoin track continues to be popular around the world. According to the data, as of May 2025, the total market value of global stablecoins has exceeded $250 billion, an increase of more than $40 billion from the end of 2024 and an increase of more than 1,100% from 2020. This month, the "stablecoin" giant Circle was officially listed on the New York Stock Exchange (NYSE) in the United States, becoming the first IPO in the "stablecoin" space. On the other hand, the stablecoin market is currently in a critical stage of accelerating compliance, expanding application scenarios, and reconstructing the competitive landscape. Factors such as technological innovation and improved regulatory frameworks will reshape the industry ecosystem. In addition to Hong Kong's Stablecoin Ordinance, the U.S. Senate intends to vote on the National Innovation Act for Guiding and Building U.S. Stablecoins (GENIUS Act) in the near future, which will ultimately lay the foundation for a regulatory framework for dollar-pegged tokens.
Ant Group's application for a stablecoin license is not only an important step for its own business expansion, but will also have a far-reaching impact on the global stablecoin market. With the continuous improvement of the regulatory framework, the stablecoin market is expected to usher in a more standardized and healthy development.