Alibaba Founder-Backed Ant Group to Integrate Circle’s USDC on Its Blockchain
2025-07-10 09:37:08
Main Idea
Ant Group's international arm plans to integrate Circle's USDC stablecoin into its proprietary blockchain, pending U.S. regulatory approval, to expand its digital currency offerings.
Key Points
1. Ant Group's international arm will integrate USDC into its proprietary blockchain after U.S. regulatory certification.
2. The integration aims to link USDC to a network involving users in the U.S., Hong Kong, and Luxembourg.
3. Ant Group's blockchain has collaborated with the People’s Bank of China (PBOC) on the country’s central bank digital currency (CBDC).
4. Circle's shares rose nearly 3.8% in pre-market trading following the announcement.
Description
The international arm of Ant Group, the company backed by Alibaba founder Jack Ma, plans to bring Circle’s USDC stablecoin onto its proprietary blockchain. The rollout will start once U.S. regulators certify the dollar-pegged token under the new federal rules, Bloomberg reported, citing people familiar with the deal. The move would give USDC a link to a network that processed more than $1 trillion in global payments last year, a third of them settled on-chain. That scale could make Ant the large...
Latest News
- MARA Holdings Names Ex-Blue River Exec as CPO to Lead Productization of Energy Tech2025-07-10 19:16:32
- Former Bitfury Exec Gould Confirmed to Take Over U.S. Banking Agency OCC2025-07-10 19:14:30
- BTC All-Time High Liveblog: Is This Run Different?2025-07-10 19:13:30
- Bitcoin Breaks Fresh Record Topping $113,0002025-07-10 17:38:15
- NEAR Protocol Gains 5% Amid Surge in Trading Volume2025-07-10 17:37:57