Circle Secures Partnership With Ant Group Subsidiary: Report

Circle teams up with Ant International to bring USDC stablecoin to Ant’s blockchain, enhancing global payments once regulatory compliance is met.

Parth Dubey By Parth Dubey Hamza Tariq Editor Hamza Tariq Updated 2 mins read
Circle Secures Partnership With Ant Group Subsidiary: Report

Key Notes

  • Circle’s USDC stablecoin is set to be integrated into Ant International’s blockchain platform once US regulatory compliance is met.
  • Ant International is pursuing stablecoin licenses in Hong Kong, Singapore, and Luxembourg.
  • The partnership follows Circle’s $1.05B IPO and deepens its push to embed USDC into everyday financial services.

Circle, the issuer of the USD-backed stablecoin USDC, has reportedly secured a partnership with Ant International, the global subsidiary of Jack Ma’s Ant Group.

Sources familiar with the matter told Bloomberg that Ant International plans to integrate USDC into its blockchain platform once the stablecoin achieves full compliance with US regulations.

While the exact timeline remains undecided, sources revealed that Ant sees regulated stablecoins as central to enhancing global payment efficiency and not crypto trading.

All Part of a Broader Strategy

Ant International, based in Singapore, is already a heavyweight in global payments. The firm processed over $1 trillion in transactions last year, with one-third of that volume handled via its blockchain.

The USDC integration is said to be part of a broader strategy by Ant to bring regulated digital currencies, including central bank digital currencies (CBDCs) and tokenized bank deposits, onto its blockchain infrastructure.

Ant International Expansion Plans

Ant is also preparing for a potential IPO with valuation estimates ranging from $8 billion to $24 billion. Integrating a compliant, trusted stablecoin like USDC could work in the company’s favor, which is also actively exploring stablecoin licenses across multiple jurisdictions, including Hong Kong, Singapore, and Luxembourg.

According to a Reuters report, the firm’s leadership views stablecoins as key enablers of efficient and user-friendly global payments.

Circle Builds on Post-IPO Momentum

The partnership follows pro-crypto legislation passed by the US Senate and Circle becoming the first stablecoin issuer to go public in the US, raising over $1 billion in its June IPO.

Alongside Ant, Circle is also working with OKX to boost USDC adoption via utility, allowing users to convert dollars to USDC (and vice versa) at a 1:1 rate, streamlining access for over 60 million OKX users.

Senior Director at Circle, Patrick Hansen, recently highlighted that the company’s other products are also witnessing a significant uptick in adoption with the euro-backed EURC stablecoin printing a fivefold growth in the past year.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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Parth Dubey

A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.

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