Jack Ma-backed Ant Group is stepping deeper into the global crypto game and it’s doing it with USDC!
Yes, according to a Bloomberg report, Ant’s international arm is partnering with Circle to bring the popular stablecoin onto its blockchain platform. The move reflects a broader shift for the Chinese fintech giant, which is now focused on regulated digital assets and cross-border payments.
The integration will begin once USDC clears U.S. compliance requirements. A timeline hasn’t been announced yet, but the partnership is already drawing attention. Circle shares rose 3.8% in pre-market trading following the news.
For Circle, this deal adds another major name to its growing list of global partners. It comes just days after the company announced a new integration with OKX, one of the world’s largest exchanges, giving over 60 million users easier access to USDC across 12 different blockchains.
Circle has been pushing hard to expand its stablecoin in regulated markets, especially after the U.S. Senate passed the GENIUS Act – the first major bill focused on stablecoin regulation. The company is also working on a global payments network to help banks and institutions settle cross-border transactions using USDC.
With Ant Group on board, Circle’s push into Asia is getting a serious boost.
This is a strategic step for Ant, whose global unit, Ant International, is being groomed for a spinoff and future IPO. In 2024, the division brought in nearly $3 billion in revenue, and analysts estimate a potential IPO valuation between $8 billion and $24 billion.
Now, the company is actively preparing to apply for stablecoin licenses in Hong Kong, Singapore, and Luxembourg.
After years of regulatory pressure in China and the suspension of its 2020 IPO, Ant is rebuilding – this time with a focus on digital currencies, tokenized bank deposits, and central bank digital currencies.
USDC may still be smaller than Tether in market cap, but Circle is betting on regulation.
While Tether faces ongoing scrutiny in Europe and Asia, Circle is leaning into compliance and forming partnerships that open up new markets.
The stablecoin race is heating up, and this is an interesting move for sure.
Ant Group gains access to a widely adopted, regulated stablecoin for cross-border payments, enhancing the speed, cost-efficiency, and transparency of transactions. This strengthens its global payment network and aligns with its strategic pivot toward regulated digital assets.
The partnership with Circle bolsters Ant International’s credibility and global appeal, especially as it seeks a spinoff and future IPO. By embracing regulated stablecoins, Ant enhances its position as a compliant and forward-thinking fintech, potentially increasing its IPO valuation (estimated between $8B-$24B).
Yes, this high-profile partnership could certainly influence other Chinese fintech firms and traditional banks to explore or adopt stablecoins. Ant Group’s move sets a precedent, demonstrating a path for regulated digital asset integration in a major market and highlighting the benefits of global stablecoin use.
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