Ant International Targets Cross-Border Payments With Stablecoin Strategy
Ant International, the Singapore-based fintech division of Jack Ma’s Ant Group and an Alibaba affiliate, plans to apply for Singapore, Hong Kong, and Luxembourg stablecoin issuer licenses, according to a June 12, 2025, announcement.
The firm plans to use stablecoins to ease cross-border payments and treasury management.
Operating Alipay+, which supports over 80 million merchants and 1.3 billion users globally, Ant International is making its entry into the growing market. Data from DefiLlama shows the stablecoin market capitalization hit $251.27 billion as of June 12, 2025, with CoinFund’s David Pakman estimating a rise past $1 trillion by year-end.
Stablecoins Market Capitalization (Source: DefiLlama)
Unlike volatile cryptocurrencies such as Bitcoin, which currently trades for $107,591, and Ethereum, trading for $2,755, stablecoins offer stability; therefore, they are the most suitable for efficient international transactions.
Ant International’s blockchain-based Whale platform processed a third of its $1 trillion transaction volume in 2024, showing its technical capabilities. The initiative is an indicator of increasing institutional appetite for regulated digital assets and solidified Ant’s reputation as a fintech leader.
Hong Kong’s New Rules Spark Ant International Stablecoin Ambitions
Hong Kong’s Stablecoin Ordinance, passed on May 21, 2025, and effective Aug. 1, 2025, is the catalyst for Ant’s plan. The law mandates that fiat-referenced stablecoin (FRS) issuers secure a license from the Hong Kong Monetary Authority (HKMA), with penalties for non-compliance reaching 5 million HKD valued at approximately $640,000 USD.
The company already revealed in a statement that it will apply for an FRS license after Aug. 1, 2025, while also targeting licenses in Singapore, its headquarters, and Luxembourg, a fintech regulatory hub, though no application timelines were specified.
Hong Kong’s regulatory framework, whose anti-money laundering regulations are open to public consultation until June 30, 2025, places it ahead of jurisdictions such as the United States, which still awaits Senate approval of the Genius Act.
The regulations intend to address risks seen in the 2022 TerraUSD collapse by ensuring solid asset backing. Ant’s cross-jurisdictional model is in line with global regulatory shifts, with competitor firms like JD.com also pursuing stablecoin issuance in Hong Kong.
Deutsche Bank Deal Hints at Ant’s Stablecoin Power Play
On June 11, 2025, Ant International partnered with Deutsche Bank to explore tokenized deposits for cross-border payments and treasury management. The deal, integrating Deutsche Bank with Ant International’s Whale platform, suggests potential stablecoin issuance to improve real-time financial services.
In 2024, Ant Digital partnered with the Sui blockchain to tokenize ESG assets, reinforcing its blockchain commitment. Stablecoins could reduce costs and delays in cross-border payments, but challenges like transparency and systemic risks remain.
