Ant Group Eyes Stablecoin Licenses in Hong Kong, Singapore, and Luxembourg

Ant International, the global arm of Alipay owner Ant Group, plans to apply for stablecoin licenses in Hong Kong, Singapore, and Luxembourg, according to a Bloomberg report citing people familiar with the matter. This move signals the company’s ambitions to expand into regulated digital asset markets amid growing global interest in stablecoins.

The application in Hong Kong is expected once the city’s stablecoin regulatory framework takes effect in August 2025. Hong Kong has been working to implement a formal stablecoin regime since 2023, aiming to establish clear guidelines for issuers and boost investor confidence. Meanwhile, Ant International is also preparing similar license applications in Singapore—where the company is based—and Luxembourg, both key jurisdictions for digital finance innovation.

Stablecoins, which are digital tokens typically pegged to fiat currencies like the U.S. dollar or Chinese yuan, offer a less volatile entry point into the crypto market compared to traditional cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH). Regulatory clarity in major financial hubs is expected to drive institutional adoption and strengthen market trust.

Ant Group operates Alipay, the world’s largest mobile payment platform with over 1 billion users and a dominant 55% market share in China’s third-party payments sector. Its expansion into stablecoins aligns with broader trends of traditional fintech firms moving into blockchain-based financial services.

While Ant International has not yet issued a formal statement on the license applications, the company’s interest highlights how fintech giants are positioning themselves for growth in regulated crypto ecosystems. As jurisdictions like Hong Kong and Singapore lead the way in digital asset regulation, more firms are expected to follow suit, accelerating mainstream adoption of stablecoins globally.