Report: Jack Ma’s Ant Group Plots Global Stablecoin Power Grab
Jamie Redman
Crypto News
Report: Jack Ma’s Ant Group Plots Global Stablecoin Power Grab
Jack Ma–backed Ant Group is said to be pursuing stablecoin licenses across multiple jurisdictions, including Singapore, according to a recent report by Bloomberg’s Lulu Yilun Chen.
Ant Group’s Global Stablecoin Strategy Leaks
As regulatory frameworks evolve at breakneck speed, traditional finance (TradFi) powerhouses are increasingly turning their attention to the expanding stablecoin arena. A recent Bloomberg report reveals that Ant Group—the world’s sixth-largest fintech company and formerly known as Ant Financial—is actively pursuing stablecoin licensing in Singapore, Hong Kong, and Luxembourg.
This insight, attributed to individuals “familiar with the matter,” comes via journalist Lulu Yilun Chen. The editorial suggests the initiative is intended to enhance “cross-border payment and treasury management services.” Still, according to Chen, Ant Group and regulatory authorities in each respective jurisdiction declined to comment on the matter.
The announcement arrives amid a broader shift, with major players in finance and technology increasingly drawn to the stablecoin sector. Consider Coinbase’s recent findings: nearly 60% of Fortune 500 firms are now exploring onchain strategies. Deutsche Bank AG, too, is actively examining both stablecoins and tokenized deposits, reflecting a broader trend among major financial institutions deepening their involvement in digital assets.
This week, Uber CEO Dara Khosrowshahi stated the company remains in the “study phase” of potentially adopting stablecoins for transactions. At the same time, Fortune reported that tech giants including Google, Apple, X, and Airbnb are weighing stablecoin integration. Meanwhile, during a Morgan Stanley event in New York, Bank of America CEO Brian Moynihan disclosed that the institution is “working with the industry” on a stablecoin initiative.
Ant Group’s quiet maneuvering signals a broader strategic pivot—one that suggests it aims to embed itself deeply within the fabric of next-generation finance. Its stablecoin ambitions may mark a defining chapter in the evolution of global digital payments.
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