Chinese tech giant Ant Group is reportedly planning to integrate Circle’s USDC stablecoin into its blockchain platform, even as it lobbies for yuan-backed alternatives. According to a Bloomberg report published July 10, the collaboration would see Ant Group’s international unit adopt USDC on its proprietary blockchain once the stablecoin meets full compliance under US regulatory frameworks. The report, citing unnamed sources familiar with the matter, said that the exact timeline for the integration remains unclear. From what we know, Ant plans to tap USDC for cross-border payment and treasury operations since it offers faster and more regulated digital payment options for global businesses. If confirmed, the move would mark a big step when it comes to bridging U.S.-issued digital assets within China’s fintech infrastructure. At the moment, neither Ant Group nor Circle has publicly confirmed the plans. Based on multiple reports, both companies have declined to comment when approached. Sources say the discussions are still private and subject to regulatory developments across both the U.S. and Asia. Ant’s expansion efforts Ant Group has been actively strengthening its global footprint ever since the Chinese regulators b locked its record-breaking IPO launch in 2020. It has since diverted its focus towards international expansion through its global arm, Ant International. Its proprietary blockchain network, dubbed Ant Chain, has been at the forefront of Ant’s expansion strategy, with reports suggesting the network managed to process nearly one-third of the $1 trillion handled by Ant International in global transactions last year. This infrastructure now underpins a growing suite of services, including cross-border settlement, treasury management, and tokenization of real-world assets. Currently, Ant is working with more than 10 global banks, including HSBC, JPMorgan, and Standard Chartered, to expand the platform’s capabilities even further. Stablecoins in focus When it comes to stablecoins, Ant has been lobbying for the adoption of yuan-backed stablecoins. Alongside JD.com, Ant Group has reportedly urged the People’s Bank of China to allow offshore yuan-pegged stablecoins in Hong Kong, arguing that a lack of digital yuan alternatives could pose strategic risks as global reliance on dollar-backed stablecoins grows. In recent months, Chinese exporters have turned in greater numbers to stablecoins like USDT and USDC for overseas payments. Executives from both firms have reportedly stressed that offshore yuan stablecoins are essential to improving the efficiency of cross-border payments and remaining competitive within the global economy. Ant Group plans to apply for stablecoin issuer licenses across several jurisdictions and will be among the very first in Hong Kong to seek approval under the special administrative region’s new Stablecoins Ordinance , which will take effect on August 1. Other jurisdictions the company plans to operate in include Singapore and Luxembourg. Despite its public support for yuan-based solutions, Ant’s potential interest in integrating USDC might be a practical move to accommodate prevailing market dynamics. Dollar-backed stablecoins currently dominate global crypto payments and liquidity flows, making USDC a strategic choice for Ant’s cross-border services in the near term. The post Ant Group eyes USDC integration despite yuan stablecoin push, says report appeared first on Invezz
