Ant International eyes stablecoin licenses in Hong Kong, Singapore: report

The unit is reportedly seeking a related permit in Luxembourg, according to sources.

Ant International is planning to apply for stablecoin licenses in Hong Kong and Singapore, reports Bloomberg, citing anonymous sources.

The payments company will apply for a stablecoin issuer’s license in Hong Kong as soon as the city’s Stablecoins Ordinance goes into effect in August, according to people familiar with the matter.

The company is also planning to seek a related permit in Luxembourg, the sources told Bloomberg.

The move is designed to bolster the fintech firm’s blockchain operation underpinning its cross-border payment and treasury management services, the people reportedly said.

Here’s more from Bloomberg.