According to a Bloomberg report published on Thursday, the Jack Mad’s Ant on the back group worked with USDC from Circle to bring the stablecoin to its blockchain, citing anonymous sources.
The report indicates that Ant Group plans to incorporate the USDC (USDC) into its blockchain after stablecoin has become in accordance with the United States. The calendar for integration is unknown.
The new fact following recent reports that Circle applied to establishing a national trust bank in the United States which, among other responsibilities, would supervise the company’s USDC reserve in the name of its American transmitter. The American Senate also adopted the bill on the regulation of stablescoin, the law on engineering, in mid-June, which would give legal clarity to the stablecoin issuers.
The interest of the ANT group for the Stablecoins is not new. Earlier this month, the company collaborated with the Chinese electronic commerce giant JD.com to put pressure on the Banque Populaire de China (PBOC) to approve the Chinese stablecoins based on the Yuan.
Circle did not respond to a request for comments from Cointtelegraph.
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Blockchain efforts from the Ant Group
Ant Group – Formerly Financial Ant and better known for having exploited the Alipay Super -App – is the affiliate fintech of the electronic commerce Alibaba, supported by Jack Ma. The company deals with more than 1 dollars per year in payments and now operates treasure services, cross -border and tokenization on its blockchain owner of Antchain.
According to reports last month, Ant International plans to ask for licenses as a stablecoin issuer in Singapore and Hong Kong. At the end of last year, the sui and Ant digital blockchain of layer 1 worked together for Tokensize real assets by emphasizing assets in environmental, social and governance space.
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The circle continues to grow
Circle has expanded its global presence in a context of increasing regulatory clarity. The law on engineering progressing in the congress and the stable rival act would have sidelined, the company launched several new initiatives.
Tuesday, Circle has teamed up with a major OKX cryptocurrency exchange to improve liquidity for the conversions of its stable USDC to the US dollar with the launch of Feeless conversions. Circle’s actions also became the most important weighting of the Vaneck Digital Asset Digital Corporate index in late June.
In mid-June, Coinbase derivatives joined forces with Clearinghouse Nodal Clear to bring the Stablecoin USDC of Circle to the American term markets as an eligible guarantee.
CERCLE CEO, Jeremy Allaire, also said last month that it would not take long before Stablecoins reaches the developer’s level of attraction that the iPhone obtained. “The highest form of utility ever created,” he said, referring to stablecoins.
Review: Bitcoin vs stablecoins.
