Ant International, the overseas arm of Ant Group, has refuted reports that it is in talks with Circle Internet Financial to integrate USDC stablecoin into its blockchain platform. Bloomberg first cited unnamed sources on July 10, claiming the two companies were exploring cooperation plans following USDC’s compliance in the United States. Just hours later, Ant International responded, stating, “The media reports are inaccurate. We currently have no such plans.”
Why it matters: Ant’s quick denial underscores its cautious approach to publicizing any stablecoin tie-ups. However, it does not diminish the company’s broader ambitions in blockchain and stablecoins. As global stablecoin adoption accelerates and regulatory clarity improves, Ant is actively seeking licenses, forging partnerships, and advancing technology to bring large-scale, trusted applications to the market. Each step by Ant in this space has the potential to reshape the global digital finance landscape.
Details: According to people familiar with the matter, Ant processed more than $1 trillion in transactions worldwide last year, with around one-third conducted on its blockchain infrastructure. They also said in June that Ant International is pursuing stablecoin licensing in Singapore, Hong Kong, and Luxembourg.
Context: Stablecoins are a type of digital asset designed to maintain a stable value, typically pegged to another currency. As of June, the total circulation of stablecoins stood at around $250 billion. According to Bloomberg, in June this year, the US Senate passed legislation setting out rules for dollar-linked cryptocurrencies, a move that has further legitimized stablecoins. As of 9 am local time on Friday (July 11), shares of Circle rose 4.4% to $209.57, marking a surge of over 500% since its listing.
- With cryptocurrency adoption on the rise, many companies, including major players in finance and technology, are steadily moving into the stablecoin space. PayPal’s launch of its own stablecoin in 2023 represented the first such initiative by a large financial institution. Meanwhile, companies like Walmart and Amazon are reportedly exploring issuing their own stablecoins. Asset managers such as BlackRock and Franklin Templeton have also in recent years rolled out tokenized money market fund products that can function similarly to stablecoins.
Although Ant International has denied reports of a partnership with Circle, its ambitions and active positioning in the stablecoin sector are undeniable.
- On June 12, 2025, Ant International announced plans to expand its stablecoin operations in Hong Kong, Singapore, and Luxembourg. On the same day, Bian Zhuoqun, president of Ant Digital Technologies’ blockchain business, revealed that the company had already initiated the license application process in Hong Kong and held multiple rounds of discussions with regulators. Ant International confirmed it would immediately apply for a stablecoin issuer license once Hong Kong’s new regulations take effect in August.
- Last year, Ant Group processed over $1 trillion in global transactions, roughly one-third of which were conducted through its blockchain platform. This expansion into stablecoins is expected to further strengthen Ant International’s position in global fintech. Thanks to the substantial transaction volumes it processes for Alibaba’s e-commerce platforms and external clients, Ant International’s treasury and funds management business is also showing increasing growth potential.
These moves underscore how traditional fintech giants are taking stablecoins seriously, particularly in the wake of the US Senate’s legislative push in June to regulate dollar-pegged cryptocurrencies, which has accelerated mainstream acceptance of stablecoins.
