Bloomberg: Ant Group plans to apply for stablecoin licenses in Hong Kong and Singapore.

Gate News bot reports that informed sources reveal that Ant Group Co.'s international division is planning to apply for stablecoin licenses in Singapore and Hong Kong. According to informed sources, Ant International, headquartered in Singapore, will immediately apply for a stablecoin issuer license in Hong Kong after the Hong Kong "stablecoin regulations" take effect in August. It added that, in addition to Singapore, the company also plans to apply for a license in Luxembourg. Insiders say the move aims to strengthen the company's blockchain business to support its cross-border payment and fund management services. They stated that Ant Group processed over $1 trillion in global transactions last year, with one-third handled by its blockchain-based Whale platform.

All parties involved declined to comment.

Source: Bloomberg