Bloomberg: Ant Group will apply for stablecoin licenses in Hong Kong and Singapore

ChainCatcher news, according to Bloomberg, Ant Group's international division is planning to apply for stablecoin licenses in Hong Kong and Singapore.

Insiders say that Ant International, headquartered in Singapore, will immediately apply for a stablecoin issuer license in Hong Kong after the "Stablecoins Ordinance" comes into effect in August. In addition to Singapore, the company also plans to seek licensing in Luxembourg.

Insiders stated that this move aims to strengthen the company's blockchain business to support its cross-border payment and fund management services. They noted that Ant Financial processed over $1 trillion in global transactions last year, one-third of which were handled by its blockchain-based Whale platform.