Ant International, a division of Jack Ma's Ant Group, announced plans to apply for stablecoin issuer licenses in Singapore, Hong Kong, and Luxembourg. The initiative, revealed on June 12, 2025, aims to utilize stablecoins for cross-border payments and treasury management, offering a stable alternative to volatile cryptocurrencies like Bitcoin. This move aligns with Hong Kong's upcoming Stablecoin Ordinance, effective August 1, 2025, mandating licenses for fiat-referenced stablecoin issuers. Ant International's Whale platform, which handled a third of its $1 trillion transaction volume in 2024, underscores its technical prowess. Additionally, a partnership with Deutsche Bank, announced on June 11, 2025, explores tokenized deposits for cross-border payments, highlighting increasing institutional interest in regulated digital assets.