The international arm of Ant Group, the company backed by the founder of Alibaba, Jack Ma, plans to carry the stable of the USDC of Circle to its patented blockchain.
The deployment will begin once the US regulators certify the dollar token in the new federal rules, Bloomberg reported, citing people familiar with the agreement.
The measure would give the USDC a link to a network that processed more than $ 1 billion in global payments last year, one third of them were established in the chain. That scale could make ANT the largest corporate user abroad of a stablcoin issued by the United States.
Ant International is also requesting Stablecoin licenses in Singapore, Hong Kong and Luxembourg, according to the report. The group wants regulated digital dollars, digital currencies of the Central Bank and tokenized bank deposits feel side by side on their platform.
The company’s block chain currently admits tokenized assets of several financial institutions and, according to the reports, it has been Working with the Popular Bank of China (PBOC) In the digital currency of the Central Bank of the country (CBDC)The Yuan Digital.
Circle shares increased almost 3.8% in the negotiation prior to the market to $ 208.
