Ant Group Partners with Circle to Integrate USDC Stablecoin into AntChain

Ant Group, backed by Jack Ma, is reportedly collaborating with Circle to integrate the USDC stablecoin into its proprietary blockchain, AntChain. This partnership is expected to proceed once USDC achieves compliance with US regulations. Ant Group, known for operating the Alipay super-app and processing over $1 trillion in annual payments, has been active in the blockchain space, offering services in treasury operations, cross-border settlements, and asset tokenization. The company has shown interest in stablecoins, recently lobbying the People’s Bank of China to approve yuan-backed stablecoins and preparing to apply for stablecoin issuer licenses in key Asian hubs.

This collaboration comes at a time when regulatory conditions for stablecoins in the US are improving. In mid-June, the US Senate passed the GENIUS Act, providing legal clarity for stablecoin issuance and management. Circle also applied to establish a national trust bank to oversee USDC reserves and support its regulated growth. These regulatory advancements are enabling Circle to accelerate its global expansion strategy. Circle’s momentum has also increased with partnerships with leading cryptocurrency exchange OKX, Coinbase Derivatives, and Nodal Clear, enhancing liquidity and usability of USDC. Circle’s USDC stablecoin is now accepted as eligible collateral in US futures markets, further solidifying its position in the digital asset space.

Circle CEO Jeremy Allaire has expressed confidence in the future of the stablecoin sector, comparing the rise of stablecoins to the revolutionary impact of the iPhone. He views stablecoins as “the highest utility form of money ever created.” The partnership between Ant Group and Circle is a significant move in aligning global fintech ecosystems around a shared standard for digital value. This collaboration is part of a broader trend of increasing acceptance of USDC in both institutional and retail financial systems, driven by new partnerships and regulatory clarity.

Ripple CEO Brad Garlinghouse has predicted explosive growth for the stablecoin market, suggesting it could expand to $1–2 trillion in the coming years. Ripple’s own stablecoin, RLUSD, quickly reached a $500 million market cap, bolstered by a strong regulatory push including the GENIUS Act and new banking license applications. With both Ant Group and Ripple making aggressive plays in the stablecoin space and institutions like BNY Mellon and Transak joining in, the sector is gaining impressive momentum globally. The regulatory environment is becoming more favorable, with the GENIUS Act and a more crypto-friendly SEC driving accelerated adoption. Ripple is doubling down on compliance efforts, applying for a banking license with the Office of the Comptroller of the Currency and seeking a Federal Reserve Master Account. These moves are part of Ripple’s strategy to bridge traditional finance and decentralized finance, further expanding the use of its stablecoin and increasing its influence in the financial landscape.