The global race to dominate the stablecoin space is heating up, with Ant Group’s international unit preparing to apply for stablecoin licenses in Hong Kong and Singapore.
As per a recent report by Bloomberg, Ant International, the Singapore-based arm of Ant Group, plans to apply for a stablecoin issuer’s license in Hong Kong as soon as the city’s Stablecoins Ordinance becomes effective this August. The firm is also eyeing regulatory approval in Singapore and Luxembourg.
Meanwhile, U.S. Bancorp is considering launching its own stablecoin amid a resurgence in institutional interest under a crypto-friendlier Trump administration. The company is showing renewed interest in digital assets after a subdued phase during the Biden administration.
At a recent conference, CEO Gunjan Kedia noted that institutional demand for crypto custody is returning, and stablecoins are now at the center of conversations. She added that U.S. Bancorp is actively monitoring the space and has se
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