Ant Group, China’s largest internet finance company, has filed to register the ANTCOIN trademark in Hong Kong, covering digital wallets, online payments, and stablecoin services. This strategic move signals the fintech giant’s positioning in Hong Kong’s growing virtual asset sector despite recent regulatory challenges from Beijing that have temporarily stalled its stablecoin ambitions.
about Ant Group Files ANTCOIN Trademark in Hong Kongrmb
0 posts last weekHong Kong Approves First Spot Solana ETF
Hong Kong has approved its first spot Solana ETF, becoming the latest jurisdiction to embrace cryptocurrency investment products. The approval positions Hong Kong ahead of the United States in crypto ETF adoption while expanding its digital asset offerings beyond Bitcoin and Ethereum.
about Hong Kong Approves First Spot Solana ETFAnt Group Denies Rare Earth-Backed RMB Stablecoin Rumors
Chinese tech giant Ant Group has refuted claims that it is developing a rare earth-backed RMB stablecoin in partnership with the People’s Bank of China (PBoC). The company warned investors against misleading reports, clarifying it has no such plans. Despite China’s domestic crypto ban, firms like Ant Group and JD.com are exploring stablecoin technology for international use, particularly under Hong Kong’s regulatory framework. Ant is also integrating USDC into its blockchain platform, while JD.com seeks stablecoin licenses for cross-border payments. Chinese regulators have cautioned brokerages against promoting stablecoins to prevent renewed domestic crypto interest.
about Ant Group Denies Rare Earth-Backed RMB Stablecoin RumorsShenzhen Warns of Stablecoin Scams as Hong Kong Prepares New Rules
Shenzhen officials have alerted the public to an increase in scams tied to stablecoins, warning of illegal fundraising, fraud, and money laundering. This follows a similar warning from JD.com about fake stablecoin promotions. In contrast, neighboring Hong Kong is preparing to launch a regulatory framework for stablecoins on August 1, allowing only licensed firms to issue fiat-referenced tokens. Financial Secretary Paul Chan highlighted stablecoins’ potential in cross-border payments, while experts note Hong Kong’s progressive stance compared to other jurisdictions. Despite China’s crypto bans, scams remain prevalent, with organized crime groups exploiting victims domestically and abroad.
about Shenzhen Warns of Stablecoin Scams as Hong Kong Prepares New RulesHong Kong’s New Stablecoin Rules: Impact & Analysis
Hong Kong will enforce a new licensing regime for fiat-referenced stablecoin issuers starting August 1, requiring strict compliance on reserves, redemption, and AML controls. The move, backed by Beijing, supports RMB internationalization and de-dollarization but imposes capital requirements three times higher than Singapore’s, potentially favoring local players over global giants like Circle and Tether. While cross-border business use holds promise, analysts note stablecoins may not yet undercut traditional payment providers like Wise due to liquidity constraints. The regulation mandates Hong Kong-based reserves, limiting direct issuance by offshore firms but encouraging partnerships for professional usage.
about Hong Kong's New Stablecoin Rules: Impact & Analysis