Jack Ma’s Ant Group is preparing to integrate Circle’s USDC stablecoin into its global blockchain platform, marking a rare crypto step by a Chinese fintech giant.
The move, led by Ant International, the company’s overseas arm, is contingent on USDC gaining full regulatory clearance in the U.S., according to people with knowledge of the matter. A formal rollout date hasn’t been set yet.
As per the reports from Bloomberg , the decision follows recent momentum around stablecoins after the U.S. Senate passed a bill in June to regulate dollar-backed digital tokens. Circle, one of the few public companies with its own stablecoin, has been among the main beneficiaries.
It was listed in June and has already announced plans for a new payments network aimed at cross-border settlements using USDC.
For Ant, it’s part of a broader effort to bring more regulated digital assets into its blockchain ecosystem, including central bank digital currencies and tokenized bank deposits, to support its cross-border payments and treasury operations.
The company handled over $1 trillion in global transactions last year, with a third running through its blockchain.
Ant has also applied for stablecoin licenses in Singapore and Hong Kong, along with a digital asset permit in Luxembourg.
Behind the scenes, Ant International has been quietly rebuilding since Chinese regulators shut down Ant’s record IPO in 2020. It now operates with an independent board and posted nearly $3 billion in revenue for 2024, with two straight years of adjusted profits. A future IPO in Hong Kong could fetch a valuation between $8 billion and $24 billion, according to Bloomberg Intelligence.
Its blockchain platform already supports tokenized assets from major banks and institutions. Ant has signed deals with global names like JPMorgan, HSBC, BNP Paribas, and Standard Chartered to expand those efforts.
The timing matters. After Meta’s failed attempt to launch a stablecoin and PayPal’s entry last year, big financial and tech players are cautiously stepping in. Walmart and Amazon are exploring their tokens.
Asset managers like BlackRock and Franklin Templeton are building tokenized money market funds, all pointing to the same shift: regulated digital dollars are becoming infrastructure.
