Ant International is accelerating its global pivot with plans to apply for stablecoin licenses in Hong Kong, Singapore, and Luxembourg.
Ant International — the global arm of Jack Ma-backed Ant Group Co., an affiliate of Alibaba Group and operator of the world’s largest digital payment platform Alipay — is preparing to apply for stablecoin licenses in Hong Kong, Singapore, and Luxembourg. The move is part of the fintech giant’s strategy to expand its blockchain-powered cross-border payments network, unidentified sources familiar with the matter told Bloomberg.
A company spokesperson confirmed that Ant will seek a fiat-referenced stablecoin issuer license in Hong Kong once the city’s Stablecoins Ordinance takes effect in August. The new law, announced by the Hong Kong government in late May, requires that all entities issuing stablecoins tied to the Hong Kong dollar or operating in the region must obtain a license from the Hong Kong Monetary Authority starting August 1 this year.
Applications in Singapore and Luxembourg will follow soon after.
These moves position Ant to tap into some of the world’s most progressive digital asset regulatory environments. Hong Kong and Singapore are actively promoting Web3 innovation under tight regulatory oversight, while Luxembourg offers Ant a strategic entry point into European financial markets.
The licensing push comes amid Ant’s efforts to expand its treasury and cross-border payments operations, which have gained traction through its blockchain platform, Whale. In 2024, the company processed over $1 trillion in global transactions, with roughly one-third conducted via blockchain infrastructure.
It also reflects Ant Group’s broader shift to globalize its business and reduce reliance on its domestic market, where regulatory crackdowns have curtailed its online lending operation. As part of this transition, Ant International — now headquartered in Singapore and operating semi-independently with its own board — is reportedly preparing for a spinoff and potential IPO.
