According to Golden Finance, 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 application for a stablecoin license in Hong Kong and has conducted multiple rounds of communication with regulatory authorities.
As a leading digital technology company under Ant Group in the fields of Internet technology, blockchain technology and digital asset services, Ant Digital has designated Hong Kong as its global headquarters this year and completed the pilot project in the regulatory sandbox of Hong Kong. Last August, Ant Digital successfully issued the first cross-border new energy physical asset RWA (Real World Asset-Tokenization) in Hong Kong, taking an important step towards the application of blockchain technology in the field of the real economy.
This time, Ant Digital’s application for a stablecoin license in Hong Kong aims to explore new incremental markets for stablecoin trading by providing secure, reliable and compliant infrastructure, and further enhance trading efficiency and liquidity. With the development of the cryptocurrency market, stablecoins, as a type of cryptocurrency with relatively stable prices, have huge application potential in cross-border payments, financial transactions and other fields. Ant Digital, with its profound accumulation in blockchain technology, is expected to secure a place in the stablecoin market.
On June 12th, Ant Digital and GCL New Energy jointly announced the establishment of a new company, “Ant Xinneng”. This series of actions demonstrates Ant Digital’s determination to actively lay out in the Hong Kong market and deeply participate in the construction of the Hong Kong fintech ecosystem.
It is learned that the Stablecoin Ordinance of Hong Kong will come into effect on August 1st. After the relevant application channel is opened, Ant Digital will submit the complete application materials as soon as possible. If the application is successful, Ant Digital will be able to issue stablecoins in compliance with regulations in Hong Kong. This will not only help it expand its global Treasury management business, but also add impetus to Hong Kong’s efforts to build a future international financial center, promoting Hong Kong to take another step forward on the path of integrated development of cryptocurrencies and fintech. The subsequent progress of Ant Digital in the license application process and its impact on the stablecoin market landscape in Hong Kong deserve close attention from the industry.
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