Ant Group of China Pushes for USDC Adoption...Integration into Its Own Blockchain

JOON HYOUNG LEE

Summary

Bloomberg reported that Ant Group is pushing to introduce USDC into its own blockchain.
Ant International announced that it is pursuing licenses in Hong Kong, Singapore, and Luxembourg to expand its stablecoin business.
Bloomberg Intelligence said that if Ant International is listed in Hong Kong, its corporate value is expected to range from at least $8 billion to $24 billion.

China's largest fintech company, Ant Group, is introducing USDC to its own blockchain.

On the 10th (local time), Bloomberg reported that Ant International, the overseas subsidiary of Ant Group, is pursuing the introduction of USDC into its blockchain platform. Ant Group is collaborating with more than 10 global investment banks (IB), including JPMorgan and Standard Chartered (SC), to develop its blockchain platform. Bloomberg stated, "The specific timeline for (USDC) adoption has yet to be determined."

Ant International is actively advancing into the stablecoin business. It has reportedly begun efforts to obtain a stablecoin issuer license in Hong Kong and Singapore. Bloomberg also reported, "(Ant International) plans to apply for the related approval in Luxembourg."

Meanwhile, Ant International’s corporate value is estimated to be up to $24 billion. According to Bloomberg Intelligence, if Ant International is listed on the Hong Kong Stock Exchange, its expected corporate value would range from at least $8 billion to as much as $24 billion.

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