The International Arm from Ant Group, the company supported by Alibaba founder Jack Ma, plans to bring Circle’s USDC StableCoin on its proprietary blockchain.
The rolling starts when the US regulators certify the Dollar-Pegged Token according to the new federal rules, reported Bloomberg and cited people who are familiar with the deal.
The move would give USDC a link to a network that processed more than $ 1 trillion in global payments last year, one-third of them decided on-chain. This scale could make Ant the largest overseas business user of an American issued stableecoin.
Ant International is also applying for stableecoin licenses in Singapore, Hong Kong and Luxembourg, according to the report. The group wants regulated digital dollars, digital currencies in the central bank and tokenized bank deposits to sit side by side on its platform.
The company’s blockchain is currently supporting tokenized assets from various financial institutions and has allegedly been Working with People’s Bank of China (PBOC) At the country’s central bank digital currency (CBDC)the digital yuan.
Circle shares rose nearly 3.8% in trading before the market to $ 208.
