Ant Group, a subsidiary of Alipay founded by Jack Ma, plans to launch a stablecoin by obtaining licenses in Hong Kong, Singapore, and potentially Luxembourg.
Jack Ma, founder of Alipay, aiming for an Asian stablecoin license
Jack Ma is stepping into the realm of stablecoins. Ant International, the global branch of the giant Ant Group (parent company of Alipay), is poised to make a strong move by seeking issuer licenses in Hong Kong and Singapore. This initiative carries significant weight in a time where stablecoins are becoming the weapon of choice for digital finance titans.
Clear ambition: to become a major player in stablecoins
According to Bloomberg, Ant International is waiting for the new regulatory regime set to take effect in August in Hong Kong to submit its application. Concurrently, the company plans to do the same in Singapore, two strategic locations in Asia known for their clear and pro-innovation stance on digital assets. But that’s not all: Luxembourg is also on the list. The goal is clear, to secure licenses in the most influential jurisdictions globally to deploy a stablecoin capable of competing with those of PayPal, Circle, or potentially Tether.
Alipay, a war machine ready to transition into Web3
A reminder: Alipay has over a billion users. They hold a 55% market share in mobile payments in China. And process billions of transactions every month. If such an infrastructure opens up to stablecoins, the effects could be massive, both in Asia and worldwide.
Stablecoins, tokens backed by fiat currencies like the dollar or yuan, have become the invisible pillars of crypto trading. They provide the stability lacking in Bitcoin, while enabling near-instant transfers worldwide. Their regulation is now a crucial issue for mass adoption.
Hong Kong, a new stablecoin laboratory
The timing is anything but coincidental. Hong Kong has been finalizing a regulatory framework tailored for stablecoins since 2023. The enforcement is expected in August 2025, and Ant plans to take advantage from day one. This is a strong signal: Chinese giants now view these licenses not as a hindrance, but as a ticket to the finance of the future.
While the U.S. struggles to offer clear regulation, Asia is making significant strides. For Jack Ma, now is not the time for caution. It’s time to go on the offensive once again.
