Circle, Ant Group Plan USDC Stablecoin Expansion: Details
More so,The 3 most popular mining software on mobile phones the addition of USDC stablecoin to Ants platform would enable enterprise clients to access a stable, dollar-pegged asset for real-time settlement and treasury operations.
As stablecoins grow in usage within global trade and digital finance, this integration could enhance the appeal of Ants blockchain services across multiple sectors.
Ant Groups Blockchain Processed Over $1 Trillion in 2024
More so, the report noted that in 2024, Ant Group experienced a significant achievement globally. The company conducted over a trillion worth of transaction volume in the financial market operations.
Internally at the company, around 1/3 of these aggregated transactions were on Ant Groups proprietary blockchain-based infrastructure. The main applications of this platform have been in treasury services, cross-border payments, and institutional-level financial services.
Notably, the blockchain platform on which the Ant network is relying has grown to form part of its growth strategy due to the regulatory changes taking place in China.
It diversified to blockchain-related services after the authorities expanded controls over online lending platforms.
Ant International Targets Stablecoin Licenses Across Three Jurisdictions
Ant International, overseas operating department of Ant Group, is also moving forward with regard to regulatory approvals of stablecoin-related services.
As it was reported recently, the company has submitted a stablecoin licensing application in Singapore, Hong Kong, and Luxembourg.
These jurisdictions act as regulatory openings in global markets in rolling out digital asset products.
Additionally, the pursuit of licenses reflected Ant Internationals approach to adopting more regulated digital currencies, including those issued by central banks and tokenized deposits.
Regulatory clarity changed following the United States passing the stablecoin legislation by the United States Senate in June.
Consequently, the avenue into the financial services of compliant stablecoin integration becomes more approachable.
Such locations might also strengthen Ant International as it serves multinational customers with blockchain-powered settlement systems.
Global Banks and Institutions Linked to Ant Blockchain
Global financial institutions are already employing the Ant blockchain platform. The company has forged an alliance with more than 10 international banks such as Standard Chartered, JPMorgan Chase, HSBC, and BNP Paribas.
Ant has tied these institutions to its network through various services in tokenized assets and digital settlement channels.
Ant Group‘s strategy centers on connecting regulated digital assets with global financial systems. By incorporating USDC stablecoin, the company aims to reinforce its network’s credibility and expand its service portfolio for international trade, e-commerce platforms, and cross-border payments.
In addition, there was an increased appreciation of stablecoins as a toolset in the financial ecosystem in the wider trend. As of June, an estimated 250 billion dollars worth of stablecoins were in circulation, with increasing interest.
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