ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/ant-group” target=”_blank”>Ant Group, an affiliate of China’s e-commerce giant ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/alibaba” target=”_blank”>Alibaba, plans to apply for a license to issue stablecoins in ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/hong-kong” target=”_blank”>Hong Kong through its overseas arm ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/ant-international” target=”_blank”>Ant International, the subsidiary said in a statement on Thursday.
Last month, Hong Kong’s legislature passed a ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank” href=”https://economictimes.indiatimes.com/markets/stablecoin”>stablecoin bill that establishes a licensing regime for fiat-referenced stablecoin issuers in Hong Kong.
Stablecoins, a type of ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank” href=”https://economictimes.indiatimes.com/markets/cryptocurrency”>cryptocurrency designed to maintain a constant value, usually pegged to a fiat currency such as the U.S. dollar, are commonly used by crypto traders to move funds…
