Jack Ma–backed Ant Group is teaming up with Circle Financial to add USDC to its blockchain. The move was reported Thursday by Bloomberg, saying that Ant International will adopt the stablecoin once it clears US compliance checks.
The deal aims to help Ant expand its global reach in digital money. It comes as Circle’s shares rose 3.8% in premarket trading.
Partnership Details
Ant International, the overseas arm of Ant Group, will integrate USDC on its blockchain network. The companies have not set an exact date for the launch.
Circle must first secure all required approvals in the US. Once cleared, users of Ant’s platform will be able to hold and transfer USDC tokens. This will bring a familiar dollar‑pegged coin to Ant’s broad user base.
Growing Institutional Interest
Stablecoins are finding more use among big players. In June, the US Senate passed the GENIUS Act to regulate dollar‑pegged tokens. That law gave companies like Circle more clarity on how they can issue and manage stablecoins.
Circle has already said it will build a global payments network using USDC for banks and other institutions. This network will let them settle cross‑border trades faster and more cheaply than they can today.
Also Read: China’s Financial Behemoth Ant Group Plans To Roll Out Stablecoins In Major Asian Financial Hubs
Ant Group’s Global Strategy
Ant Group has been shifting its focus outside China since 2020. Its record‑breaking IPO was halted that year by regulators at home. Since then, it has pushed into new areas like digital wallets, blockchain services and overseas markets.
Last year, Ant handled over $1 trillion in transactions worldwide. About one‑third of that ran on its blockchain. Now, by adding USDC, it can offer more regulated tokens to its customers. The firm is also planning to apply for stablecoin licenses in Hong Kong, Singapore and Luxembourg.
Regulatory Context
Ant International’s chief of platform tech, Kelvin Li, said they will not use USDC for crypto trading and will focus on global payments.
Li explained at the Reuters Next Conference in Singapore that stablecoins can make cross‑border money movement more efficient. He said the goal is to improve the experience for users, not to push more crypto bets. This fits with FinTech firms’ push to stay on the right side of new rules.
Offshore Yuan Stablecoins Push
Ant Group is not stopping at USDC and want to issue the tokens in Hong Kong. The financial giant and e‑commerce giant JD.com are urging China’s central bank to allow offshore yuan stablecoins.
They aim to update the legal setup, win approval from the People’s Bank of China and challenge the US dollar’s sway in trade. If successful, these yuan tokens could give Chinese firms a new tool for global business.
Also Read: China’s Financial Giant Ant Group Refutes Stablecoin Tie-Up Rumors with Chinese Firm Hainan Huatie