Day: June 13, 2025
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The Stablecoin Race Is On: Web2 Giants Are Lining Up for Licenses — Is Hong Kong the Next Battlefield?
Ant Group's international arm just confirmed it plans to apply for stablecoin licenses in both Hong Kong and Singapore, pledging to submit applications “as soon as local regulatory channels open.” The news immediately sparked market reactions — Hong Kong-listed Yunfeng Financial (00376.HK), tied to the “Ant Financial concept,” surged up to 98% intraday. Meanwhile, JD…