Circle's USDC Is Being Adopted by Jack Ma Payment Giant Ant Group
2025-07-10 11:20:39
Main Idea
Ant Group is set to adopt Circle’s USDC stablecoin on its blockchain platform, pending USDC's full U.S. compliance following the GENIUS Act passage.
Key Points
1. Ant Group will integrate USDC after it achieves full compliance in the U.S., following the GENIUS Act's recent passage.
2. Ant Group is lobbying the Chinese government to issue stablecoins backed by the Hong Kong dollar, with new rules effective Aug. 1.
3. Circle, the issuer of USDC, has reached a record valuation of $46 billion following the GENIUS Act's approval.
4. Ant International’s head of platform tech stated the firm will focus on global payments rather than mainland China for stablecoin adoption.
5. The GENIUS Act, if approved by the House of Representatives, will provide legal clarity for stablecoins like USDC in the U.S.
Description
The Chinese parent company of Alipay is set to incorporate the stablecoin into its blockchain platform, as per unconfirmed reports.
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