Ant Group, backed by Jack Ma, plans to integrate USD Coin (USDC) stablecoin into its global blockchain platform once it meets full U.S. regulatory compliance.
Proposed USDC Integration
Sources indicate that Ant Group intends to incorporate Circle Internet Group Inc.'s USD Coin (USDC) into its global blockchain platform. An exact timeline for the integration has not yet been determined, but the step will occur after the stablecoin achieves full compliance under U.S. regulations.
Expansion of Ant Group's Financial Services
USDC is expected to enhance Ant's cross-border payment and treasury management services, enabling faster and more regulated transactions for businesses worldwide. The integration of USDC will allow Ant to offer more stable and efficient solutions for financial institutions.
Strategic Shift and Licensing
Ant Group is actively expanding its international footprint after its planned 2020 IPO was halted due to regulatory crackdowns in China. In response, Ant has focused on strengthening its fintech infrastructure through its international arm. The company aims to acquire licenses to issue its own stablecoins in jurisdictions such as Hong Kong, Singapore, and Luxembourg, beginning with new regulations in Hong Kong set to take effect on August 1.
The integration of USDC stablecoin is a significant move for Ant Group in its strategy to broaden its international financial services and adapt to modern regulatory requirements.
