Ant Group, the fintech affiliate of Alibaba, is planning to collaborate with Circle for the integration of the USDC stablecoin into its blockchain services.
Plans for USDC Integration
According to a Bloomberg report, Ant Group is working with USDC issuer Circle to integrate the stablecoin into its blockchain platform. The integration will take place after obtaining the necessary compliance in the USA, but the exact timeline is currently undefined.
New Initiatives of Ant Group
Earlier this month, Ant Group also collaborated with JD.com to lobby for the approval of Chinese yuan-based stablecoins. Additionally, Ant International is reportedly planning to apply for stablecoin issuer licenses in Singapore and Hong Kong.
Circle's Expansion on the International Scene
Circle is actively expanding its global presence. Recently, the company launched initiatives around stablecoins, including a partnership with popular cryptocurrency exchange OKX to enhance liquidity for conversions of USDC to US dollars.
The emergence of stablecoins like USDC plays a significant role in the financial world, and the initiatives by Ant Group and Circle may lead to a new phase in the development of blockchain technologies.
