Ant International, the cross-border arm of Jack Ma’s Ant Group, is collaborating with Circle to integrate the USDC stablecoin into Ant’s proprietary blockchain, pending the token’s clearance of U.S. regulatory requirements, Bloomberg reported on Thursday.
The partnership would give the payments giant—which processed more than $1 trillion in cross-border transactions last year—direct access to the world’s second-largest dollar-pegged stablecoin as it expands treasury and settlement services for merchants and banks. Ant’s blockchain, launched in July 2020 and called the AntChain, already supports tokenized deposits and other digital assets issued by more than 10 global lenders, including HSBC, JPMorgan, and Standard Chartered.
USDC integration hinges on Circle completing its U.S. compliance roadmap, which includes full adherence to the stablecoin bill that cleared the U.S. Senate in June. Stablecoins tied 1-for-1 to the greenback now account for about $250 billion in circulation, a number that may skyrocket to over $2 trillion by 2028 if laws are passed, according to Donald Trump’s Treasury Secretary, Scott Bessent.
For Ant International, whose Alipay+ network serves Alibaba marketplaces and external clients, the move signals a push to offer regulated crypto rails. The unit is reportedly seeking stablecoin licenses in Hong Kong, Singapore, and Luxembourg ahead of a potential IPO that could value the business anywhere between $8 billion and $24 billion.
Circle, which went public in June, has pitched USDC as a tool for instant settlement among banks and corporates. The firm has aggressively pursued expanding USDC’s distribution this year, striking deals with service providers such as OKX and Stripe, while also applying for a U.S. national bank license. USDC’s supply stands at about $61 billion, second only to Tether’s USDT, The Block’s data dashboard shows.
A successful tie-up with Ant would enable the token to be added to one of the largest non-U.S. payment ecosystems, potentially widening USDC’s reach to millions of merchants and consumers who transact in 15+ currencies across Ant’s network.
Neither Ant nor Circle shared the timeline for formal rollout or the size of the pilot. The Block contacted USDC’s issuer for comment.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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