Ant International Weighs Global Payment-Focused Stablecoin Launch

FinTech Ant International is weighing stablecoin license applications in several countries.

Ant Global Manager of Platform Tech Kelvin Li said at a conference in Singapore Wednesday (July 9) that Ant — the overseas arm of Chinese tech conglomerate Ant Group — is “seriously considering” the effort, Reuters reported Wednesday.

“Firstly, we will not be focusing on crypto transactions,” Li said, per the report. “On the other side, we’ll be focusing on global payments. We believe stablecoins are an important means that will enable us to provide global payments in [a] much more efficient way and bring much better customer experience.”

Stablecoins are cryptocurrencies pegged to a fiat currency, such as the U.S. dollar. As their name implies, they are designed to hold a constant value. Crypto traders typically use them to transfer money between tokens.

These days, “ stablecoins sit at a rare confluence of opportunity and uncertainty,” PYMNTS reported June 27.

On one hand, the coins can provide real-world utility at scale, especially within cross-border payments and emerging markets. However, they raise questions about monetary control, systemic risk and worldwide financial governance.

“Yes, stablecoins have matured into a system-level conversation for payments players,” PYMNTS wrote. “But for every promise of financial efficiency and inclusion, there are equally urgent questions hovering in the wings about illicit finance , monetary sovereignty and market disruption.”

The warning about illicit finance came June 26 from global watchdog the Financial Action Task Force . It reported that most illegal on-chain financial activity in 2024 involved stablecoins — adding up to $51 billion.

FATF has implored nations to accelerate the implementation of a so-called “travel rule,” which stipulates that identity information travel with digital transactions beyond certain thresholds. All the same, compliance remains uneven — especially across countries where regulatory frameworks are still being worked out.

Despite the regulatory issues, stablecoins’ technological momentum seems undeniable, with companies like Visa and Mastercard not only adopting the rails but building them, and major banks taking on stablecoin projects .

“But this isn’t a story of triumphant disruption alone,” PYMNTS wrote. “It’s a story about tension — between speed and safety, inclusion and oversight, decentralization and sovereignty. It is, in essence, a story about who gets to define the future of money.”