Singapore-based fintech firm Ant International is exploring stablecoin license applications in multiple global jurisdictions, according to an executive’s statement on July 9.

Kelvin Li, head of platform tech at Ant International, shared the plans during the Reuters Next Conference in Singapore.

He clarified the company is not focusing on cryptocurrency transactions but wants to improve global payments through stablecoins.

“We believe stablecoins are an important means that will enable us to provide global payments in a much more efficient way and bring much better customer experience,” he stated.

Ant International is the overseas arm of Chinese fintech giant Ant Group.

🔗 Source: Reuters

🧠 Food for thought

1️⃣ Stablecoin market is experiencing explosive growth amid regulatory clarity

The stablecoin market has expanded dramatically from just $5 billion in January 2020 to approximately $255 billion in 2025, demonstrating sustained institutional interest beyond crypto speculation 1.

Annual transaction volume for stablecoins is projected to reach $15.6 trillion in 2024, reflecting their increasing adoption for both trading and cross-border payments 2.

This growth coincides with major regulatory developments, including the U.S. Senate’s passage of the GENIUS Act in June 2025, which creates a comprehensive framework for stablecoin issuers with clear reserve requirements and consumer protections 3.

For companies like Ant International, this regulatory clarity reduces operational uncertainty while creating new compliance standards they must navigate as they enter the space.

The market is attracting both established financial institutions and technology companies that recognize stablecoins’ potential to reduce friction in global payments, particularly as regulators establish clearer guidelines.

2️⃣ Intense competition for stablecoin licenses reflects strategic importance

Ant International isn’t alone in its stablecoin ambitions, with over 40 companies currently preparing applications for Hong Kong’s stablecoin licensing system that launches August 1, 2025 4.

Major Chinese financial institutions and internet giants are among the applicants, creating a highly competitive landscape where only a few firms are expected to meet the stringent technical and regulatory requirements 4.

Recent Ant International developments