Ant International, a subsidiary of China's Ant Group, is preparing to apply for stablecoin issuer licenses in Hong Kong and Singapore following the upcoming implementation of Hong Kong's Stablecoins Ordinance on August 1, 2025. This move aligns with Hong Kong's broader strategy to establish itself as a global hub for digital assets and blockchain finance, reinforced by recent policy statements and regulatory developments. Ant Group is also partnering with Circle to integrate the USDC stablecoin into its blockchain platform, pending completion of U.S. compliance requirements, aiming to enhance cross-border payments and crypto transactions. Concurrently, major Chinese tech companies, including Ant Group and JD.com, are lobbying China's central bank to authorize yuan-backed stablecoins, proposing their issuance in Hong Kong to support offshore yuan digital currency initiatives. This marks a notable shift in China's regulatory stance on digital assets, as evidenced by a recent Shanghai regulator meeting to consider strategic responses to stablecoins and cryptocurrencies despite the ongoing crypto trading ban in the country. In the broader regional context, Hong Kong-based digital asset platform OSL Group has secured $300 million in equity financing to support its global expansion and development of stablecoin and regulated payment infrastructure, further indicating growing investor confidence in the region's digital asset market.