Jack Ma-backed Ant Group eyes USDC stablecoin for own blockchain: Report
Ant Group is reportedly working with Circle to integrate USDC into its blockchain platform once the stablecoin achieves regulatory compliance.
Jack Ma-backed Ant Group is reportedly working with USDC issuer Circle to bring the stablecoin to its blockchain, according to a Bloomberg report published Thursday, citing anonymous sources.
The report said Ant Group plans to incorporate USDC (USDC) into its blockchain after the stablecoin becomes compliant in the US. The exact timeline for the integration is currently undefined.
The news follows recent reports that Circle has applied to establish a national trust bank in the US that, among other responsibilities, would oversee the firm’s USDC reserve on behalf of its US issuer. The US Senate also passed the stablecoin regulation bill, the GENIUS Act, in mid-June, which would provide legal clarity for stablecoin issuers.
