Circle’s USDC Is Being Adopted by Jack Ma Payment Giant Ant Group

Chinese payments Giant Ant Group will take over Circle’s USDC Stablecoin as part of its blockchain platform, Bloomberg Reports.

Ant manages Alipay, the most used platform for mobile payments on mainland China, which is also large -scale supported in neighboring Asian countries. It is thought that it have approximately 1.6 billion user accountsMaking the world’s most popular mobile payment platform with a wide margin. It started life as a fence of Alibaba, one of the largest online retailers and cloud providers in China.

The timeline for integration is still undecided, according to the sources, but it is said that it will happen after USDC is completely in the US, after the recent passage of the Genius Act.

Bloomberg Did not share many details about what the USDC integration will ultimately look like. Reuters reported Earlier this week That antgroup lobbying with the Chinese government and takes accommodation applications “seriously” in other areas of law All over the world to launch their own stablecoins. Ant is said to be planning to give Stablecoins, supported by the Hong Kong Dollar, after the new rules of the island come into force on 1 August.

Ant International’s Head of Platform Tech, Kelvin Li, told an audience on the Reuters Next conference in Singapore that the company “in the first instance will not concentrate on crypto transactions”.

“On the other hand, we will concentrate on global payments,” he added. “We believe that Stablecoins are an important means that will enable us to provide global payments in a much more efficient way and offer a much better customer experience.”

Neither Circle nor Ant have confirmed the reports at the time of writing.

Circle is touching new highlights

The reports as Circle, which will be launched in 2013, has achieved record valuations after the genius law that received approval of the congress on 17 June. If the bill is now approved by the House of Representatives, it will give Stablecoins, such as USDC, legal clarity in the US for the first time.

The Stablecoin company is now appreciated at $ 46 billion, making it one of the most valuable companies in the crypto industry that follows its IPO last month.

Alexandr Kerya, VP of product management on Cex.io, said Decrypt This can be a sign that the circle gets a lead ConnectThe biggest competitor in the Stablecoin space. At the greater momentum of Circle in terms of approval of the regulations, he noticed how the tether “as the first to protect a license under the new EU rules”, and how Circle has “the most American money channels of a Stablecoin -emittent.”

Korya also pointed out at his momentum in terms of adoption, and emphasized how Circle’s The offer has risen by 88% In the past twelve months, the growth of 40% of Tether surpasses.