Ant Group Partners with Circle to Integrate USDC Stablecoin

Ant Group, backed by Jack Ma, is reportedly collaborating with Circle Financial to integrate USDC, a stablecoin, onto its blockchain platform. This strategic move underscores Ant Group's ambition to expand its global presence in the digital currency sector. The integration is expected to occur once USDC meets the necessary US compliance requirements, although the exact timeline remains undetermined.

This partnership aligns with the growing regulatory momentum around stablecoins. In June, the US Senate passed the GENIUS Act, the first significant legislation aimed at regulating dollar-pegged digital tokens. Circle, which issues its own stablecoin, has benefited from this regulatory clarity and plans to launch a global payments network for banks and financial institutions to use USDC in cross-border settlements.

For Ant Group, this collaboration represents a significant step toward incorporating more regulated tokens into its blockchain infrastructure. The company is also exploring support for other digital currencies, including central bank digital currencies and tokenized bank deposits. These technologies are increasingly integral to Ant Group's global treasury and cross-border services.

Ant Group processed over $1 trillion in global transactions last year, with approximately one-third of these transactions handled on its blockchain. The company is preparing to apply for stablecoin-related licenses in key markets such as Hong Kong, Singapore, and Luxembourg. This regulatory alignment comes after a prolonged regulatory crackdown that forced Ant Group to overhaul its business following the suspension of its record-breaking IPO in 2020. Since then, the company has shifted its focus toward new growth opportunities beyond mainland China.

Ant Group's international unit, which generated nearly $3 billion in revenue in 2024, is being positioned for a potential spinoff and eventual public listing. As regulators tighten their grip on stablecoins, Ant Group's push to adopt USDC appears to be a strategic move to stay ahead of the curve. With approximately $250 billion already in circulation, there is a growing need for trusted names and efficient cross-border systems, and Ant Group seems poised to meet this demand.