Crypto 101

Jack Ma-Backed Ant to Add Circle’s Stablecoin to Global Net

Stablecoins are gaining more acceptance after the US Senate passed legislation in June.
Photographer: Gabby Jones/Bloomberg

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By Lulu Yilun Chen and Emily Mason

July 10, 2025 at 7:46 AM UTC

Updated on

July 10, 2025 at 1:47 PM UTC

Jack Ma-backed Ant Group Co. is working with Circle Internet Group Inc. to adopt its stablecoin on the Chinese fintech company’s blockchain platform, according to people familiar with the matter.

Ant International, the company’s global unit, is planning to incorporate Circle’s USDC coin on its blockchain platform after the asset becomes compliant in the US, the people said, requesting not to be named because the matter is private. The exact timeline has yet to be determined, the people added.