Ant International, is evaluating the possibility of applying for stablecoin licenses in several countries, according to comments made during the Reuters Next Conference in Singapore.
Ant is reportedly eyeing stablecoin licences in Hong Kong, Singapore and Luxembourg.
Kelvin Li, who leads platform technology at Ant International, explained to Reuters that the firm sees stablecoins as a way to streamline international payments and enhance the user experience.
The comment is backed by news from Bloomberg that the company is expected to adopt USDC once the stablecoin clears US compliance requirements.
Based in Singapore, Ant International is expanding its footprint beyond China and views improvements in global payment systems as a key part of that strategy.
The company is also looking to support other digital currencies, including central bank digital currencies and tokenized bank deposits.
Ant processed over $1 trillion in global transactions last year, with roughly one-third handled on its blockchain.