According to Golden Finance, on June 12th, Bian Zhuoqun, vice president of Ant Group and president of Ant Digital’s blockchain business, disclosed at the SNEC Shanghai Photovoltaic Exhibition that Ant Digital has officially initiated the relevant work for applying for a stablecoin license in Hong Kong and has conducted multiple rounds of communication with regulatory authorities.
This year, Ant Digital has designated Hong Kong as its global headquarters and has completed the pilot of the regulatory sandbox in Hong Kong, laying a certain foundation for applying for a stablecoin license. With the gradual improvement of virtual asset regulation in Hong Kong’s financial market, the stablecoin market has also ushered in new development opportunities. On May 21st, the Legislative Council of Hong Kong passed the Stablecoin Bill, which will come into effect on August 1st. The bill aims to establish a licensing system for fiat stablecoin issuers, clearly stipulating that anyone who issues fiat stablecoins in Hong Kong during the course of business or issues fiat stablecoins outside Hong Kong that claim to be pegged to the value of the Hong Kong dollar, A license must be applied for from the Financial Management Commissioner.
Ant Digital’s application for a stablecoin license this time is an important part of its global Treasury management layout. Ant International responded that it is accelerating investment and cooperation in global Treasury management, and applying AI, blockchain and stablecoin innovations to large-scale practices. After the Stablecoin Ordinance comes into effect and the relevant application channels are opened, Ant Digital will submit a formal application as soon as possible, hoping to contribute to the construction of Hong Kong as a future international financial center.
In the stablecoin market, the entry of Ant Digital Technology is expected to bring new vitality and transformation. By providing a secure, reliable and compliant infrastructure, Ant Digital may create a new incremental market for stablecoin trading, enhancing trading efficiency and liquidity. Previously, the Hong Kong Monetary Authority has released the first batch of stablecoin issuer sandbox list, among which institutions such as JD Coin Chain Technology (Hong Kong) and Yuanbi Innovation Technology are included. Nowadays, Ant Digital is actively applying for a license, indicating that the Hong Kong stablecoin market will welcome more participants. The coexistence of competition and innovation may further promote the standardized development of the industry.
In addition, on the same day, Ant Digital Technology and GCL New Energy jointly announced the establishment of a new company, “Ant Xinneng”, to cooperate in the energy field such as photovoltaic. This series of actions demonstrates Ant Digital’s proactive exploration in fintech and the integrated development of multiple fields. As the application for stablecoin licenses progresses, Ant Digital’s future layout in the Hong Kong and even global financial markets is worth continuous attention.
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