SINGAPORE (Reuters) -Singapore-headquartered financial technology company Ant International is “seriously considering” stablecoin license applications in multiple jurisdictions around the world, an executive said on Wednesday. “Firstly, we will not be focusing on crypto transactions,” Ant International’s Head of Platform Tech Kelvin Li said in a panel at the Reuters Next Conference in Singapore. “On the […]
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REUTERS NEXT-Ant International ‘seriously considering’ stablecoin license applications
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SINGAPORE (Reuters) -Singapore-headquartered financial technology company Ant International is “seriously considering” stablecoin license applications in multiple jurisdictions around the world, an executive said on Wednesday.
“Firstly, we will not be focusing on crypto transactions,” Ant International’s Head of Platform Tech Kelvin Li said in a panel at the Reuters Next Conference in Singapore.
“On the other side, we’ll be focusing on global payments. We believe stablecoins are an important means that will enable us to provide global payments in much more efficient way and bring much better customer experience,” he added.
Ant International is the overseas arm of Chinese fintech giant Ant Group.
Stablecoins, a type of cryptocurrency designed to maintain a constant value, are usually pegged to a fiat currency such as the U.S. dollar. They are commonly used by crypto traders to move funds between tokens.
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(Reporting by Yantoultra Ngui, Kane Wu, Himanshi Akhand, Scott Murdoch; Editing by Jan Harvey and Kim Coghill)