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Author: Fairy, ChainCatcher Stablecoins are a new battlefield for global payments that no technology giant wants to miss. As the new Hong Kong stablecoin regulation policy is about to beAuthor: Fairy, ChainCatcher Stablecoins are a new battlefield for global payments that no technology giant wants to miss. As the new Hong Kong stablecoin regulation policy is about to be

Ant enters the stablecoin market, has the battle between giants begun?

Author: PANews

Source: PANews

2025/06/13 13:00

6 min read

ANT$0,000297035+0,68%

Author: Fairy, ChainCatcher

Stablecoins are a new battlefield for global payments that no technology giant wants to miss.

As the new Hong Kong stablecoin regulation policy is about to be implemented, Ant Group has taken action. Its international business entity Ant International plans to apply for a stablecoin issuer license as soon as the policy takes effect, and simultaneously promote compliance layout in markets such as Singapore and Luxembourg.

JD.com, Ant, Standard Chartered Bank...a "battle among giants" for stablecoins is about to begin.

Will Ant's stablecoin layout open up a new space of $150 billion?

The news started on June 10, when Deutsche Bank announced a partnership with Ant International, and the two sides will explore cutting-edge areas such as tokenized deposits and stablecoin solutions. This cross-border financial technology cooperation has become a prelude to Ant International's stablecoin layout.

Two days later, Ant International announced that it would apply for a Hong Kong stablecoin issuer license. It said it was accelerating investment and expanding cooperation in global treasury management, and putting AI, blockchain and stablecoin innovations into real and reliable large-scale applications.

This move may indicate that Ant Group has incorporated stablecoins into the core of its global financial technology strategy, intending to use them to build a "stable anchor" covering cross-border capital flows. The news triggered a strong reaction in the market, with Hong Kong stocks "Ant Financial concept stocks" collectively rising. Yunfeng Financial once soared 98% during the session, and Lion Holdings rose nearly 15%.

It is worth noting that according to Bloomberg, the total amount of global funds processed by Ant International in 2024 will exceed 1 trillion US dollars, of which more than one-third will be completed through its blockchain platform Whale. A rough estimate is that more than 300 billion US dollars of funds will be circulated on the chain. If half of them can be extended to the stablecoin scenario, then the theoretical space for stablecoin transactions in Ant's existing business system alone has reached the level of 150 billion US dollars.

Ant's ten-year chain

In fact, Ant Group’s exploration of Web3 has already begun quietly and has continued to advance in the past decade.

Ant enters the stablecoin market, has the battle between giants begun?

As early as 2015, Ant Financial established a blockchain team to start systematic research on this cutting-edge technology. The following year, its first blockchain charity application, "Hearing-impaired Children Regain Their Voices," was successfully launched, achieving full-chain tracking of the flow of donations, becoming a representative case of early blockchain technology implementation in China.

In 2018, Ant Blockchain completed the transformation from a "technical project" to a "platform ecosystem", officially launched the partner program, and opened the BaaS blockchain platform to the outside world. This strategic shift also laid the foundation for the subsequent product explosion.

In 2019, Ant's blockchain products began to be implemented at an accelerated pace: "Double Chain" was launched in the field of supply chain finance to serve the financing needs of small and medium-sized enterprises; the origin of 400 million overseas shopping products on Tmall Double 11 was traced through blockchain; the original image copyright protection platform "Quezao" was launched; and even the blockchain cross-border remittance network from Malaysia to Pakistan was opened, showing a strong ambition for globalization.

In 2020, Ant officially upgraded Ant Blockchain to "Ant Chain" and announced that its average daily chain access times has exceeded 100 million times.

In 2021, Ant Chain entered the NFT field and launched payment code skin NFT.

In 2023, Ant launched ZAN, a sub-brand focusing on Web3, in Hong Kong to provide compliant technical solutions for overseas markets. In the same year, Ant Group cooperated with HSBC to complete the test of internal corporate payment transactions based on tokenized deposits, integrating traditional finance and on-chain technology in real scenarios for the first time.

In 2024, Ant Group completed its reorganization, and its three subsidiaries, Ant International, OceanBase, and Ant Digits, operated independently, respectively establishing a board of directors and CEO structure. Since then, Ant International and Ant Digits have continued to deploy in the Web3 field, especially in the RWA field.

In December 2024, Sui reached a cooperation with Ant Financial to promote the implementation of RWA in the new energy industry.

In April 2025, Ant Financial announced the launch of the Layer2 blockchain Jovay for overseas markets.

In May 2025, Ant International became the first corporate client in Hong Kong to use HSBC's tokenized deposit service.

......

From the underlying chain to compliant overseas expansion, from public welfare scenarios to global payments, Ant continues to build its own Web3 territory using a quiet but strategically profound path.

Giants compete for brand

As Hong Kong launches the stablecoin sandbox test and makes it clear that it will soon launch a licensing system, a race among giants to obtain licenses is quietly underway. Ant is the first to take action, but this game is already crowded with well-prepared players.

As early as July last year, five giants had become participants in the "sandbox" for stablecoin issuers: JD CoinChain Technology, Yuanbi Technology, Standard Chartered Bank, Animoca Brands, and Hong Kong Telecom.

In addition, the following companies have been interested in participating in the issuance of stablecoins in Hong Kong:

In November 2023, Dr. Xiao Feng, founder of Hashkey Group, said in his speech that Hashkey Group will jointly issue stablecoins in Hong Kong with Yuanbi Technology and ZhongAn Bank.

In May 2024, Hong Kong-listed company Yucheng Kejin reached a cooperation with Chainlink to explore the issuance of Hong Kong stablecoins

Judging from the composition of the players that have surfaced so far, the Hong Kong stablecoin track is gathering three types of forces: traditional financial institutions such as Standard Chartered Bank and ZhongAn Bank regard stablecoins as a testing ground for tokenized deposits and on-chain accounts; technology and e-commerce giants such as Ant Group and JD.com are more focused on integrating stablecoins into their ecosystems to promote the application of cross-border payments and digital consumption scenarios; and Web3 native forces represented by Animoca Brands and HashKey Group are trying to use Hong Kong's policy window to create competitive on-chain stable assets.

Ant enters the stablecoin market, has the battle between giants begun?

Ant Group's strategic layout not only demonstrates its keen insight into global market dynamics, but also heralds a new direction for payment and capital flow. With the influx of more giants, the maturity and innovation of the stablecoin ecosystem will drive the global payment system into a new era.

Market Opportunity

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Tags:

#RWA #On-chain #Stablecoins #Whale #NFT

The gaming industry is in the midst of a historic shift, driven by the rise of Web3. Unlike traditional games, where developers and publishers control assets and dictate in-game economies, Web3 gaming empowers players with ownership and influence. Built on blockchain technology, these ecosystems are decentralized by design, enabling true digital asset ownership, transparent economies, and a future where players help shape the games they play. However, as Web3 gaming grows, security becomes a focal point. The range of security concerns, from hacking to asset theft to vulnerabilities in smart contracts, is a significant issue that will undermine or erode trust in this ecosystem, limiting or stopping adoption. Blockchain technology could be used to create security processes around secure, transparent, and fair Web3 gaming ecosystems. We will explore how security is increasing within gaming ecosystems, which challenges are being overcome, and what the future of security looks like. Why is Security Important in Web3 Gaming? Web3 gaming differs from traditional gaming in that players engage with both the game and assets with real value attached. Players own in-game assets that exist as tokens or NFTs (Non-Fungible Tokens), and can trade and sell them. These game assets usually represent significant financial value, meaning security failure could represent real monetary loss. In essence, without security, the promises of owning “something” in Web3, decentralized economies within games, and all that comes with the term “fair” gameplay can easily be eroded by fraud, hacking, and exploitation. This is precisely why the uniqueness of blockchain should be emphasized in securing Web3 gaming. How Blockchain Ensures Security in Web3 Gaming?

Immutable Ownership of Assets Blockchain records can be manipulated by anyone. If a player owns a sword, skin, or plot of land as an NFT, it is verifiably in their ownership, and it cannot be altered or deleted by the developer or even hacked. This has created a proven track record of ownership, providing control back to the players, unlike any centralised gaming platform where assets can be revoked.
Decentralized Infrastructure Blockchain networks also have a distributed architecture where game data is stored in a worldwide network of nodes, making them much less susceptible to centralised points of failure and attacks. This decentralised approach makes it exponentially more difficult to hijack systems or even shut off the game’s economy.
Secure Transactions with Cryptography Whether a player buys an NFT or trades their in-game tokens for other items or tokens, the transactions are enforced by cryptographic algorithms, ensuring secure, verifiable, and irreversible transactions and eliminating the risks of double-spending or fraudulent trades.
Smart Contract Automation Smart contracts automate the enforcement of game rules and players’ economic exchanges for the developer, eliminating the need for intermediaries or middlemen, and trust for the developer. For example, if a player completes a quest that promises a reward, the smart contract will execute and distribute what was promised.
Anti-Cheating and Fair Gameplay The naturally transparent nature of blockchain makes it extremely simple for anyone to examine a specific instance of gameplay and verify the economic outcomes from that play. Furthermore, multi-player games that enforce smart contracts on things like loot sharing or win sharing can automate and measure trustlessness and avoid cheating, manipulations, and fraud by developers.
Cross-Platform Security Many Web3 games feature asset interoperability across platforms. This interoperability is made viable by blockchain, which guarantees ownership is maintained whenever assets transition from one game or marketplace to another, thereby offering protection to players who rely on transfers for security against fraud. Key Security Dangers in Web3 Gaming Although blockchain provides sound first principles of security, the Web3 gaming ecosystem is susceptible to threats. Some of the most serious threats include:

Smart Contract Vulnerabilities: Smart contracts that are poorly written or lack auditing will leave openings for exploitation and thereby result in asset loss. Phishing Attacks: Unintentionally exposing or revealing private keys or signing transactions that are not possible to reverse, under the assumption they were genuine transaction requests. Bridge Hacks: Cross-chain bridges, which allow players to move their assets between their respective blockchains, continually face hacks, requiring vigilance from players and developers. Scams and Rug Pulls: Rug pulls occur when a game project raises money and leaves, leaving player assets worthless. Regulatory Ambiguity: Global regulations remain unclear; risks exist for players and developers alike. While blockchain alone won’t resolve every issue, it remediates the responsibility of the first principles, more so when joined by processes such as auditing, education, and the right governance, which can improve their contribution to the security landscapes in game ecosystems. Real Life Examples of Blockchain Security in Web3 Gaming Axie Infinity (Ronin Hack): The Axie Infinity game and several projects suffered one of the biggest hacks thus far on its Ronin bridge; however, it demonstrated the effectiveness of multi-sig security and the effective utilization of decentralization. The industry benefited through learning and reflection, thus, as projects have implemented changes to reduce the risks of future hacks or misappropriation. Immutable X: This Ethereum scaling solution aims to ensure secure NFT transactions for gaming, allowing players to trade an asset without the burden of exorbitant fees and fears of being a victim of fraud. Enjin: Enjin is providing a trusted infrastructure for Web3 games, offering secure NFT creation and transfer while reiterating that ownership and an asset securely belong to the player. These examples indubitably illustrate that despite challenges to overcome, blockchain remains the foundational layer on which to build more secure Web3 gaming environments. Benefits of Blockchain Security for Players and Developers For Players: Confidence in true ownership of assets Transparency in in-game economies Protection against nefarious trades/scams For Developers: More trust between players and the platform Less reliance on centralized infrastructure Ability to attract wealth and players based on provable fairness By incorporating blockchain security within the mechanics of game design, developers can create and enforce resilient ecosystems where players feel reassured in investing time, money, and ownership within virtual worlds. The Future of Secure Web3 Gaming Ecosystems As the wisdom of blockchain technology and industry knowledge improves, the future for secure Web3 gaming looks bright. New growing trends include: Zero-Knowledge Proofs (ZKPs): A new wave of protocols that enable private transactions and secure smart contracts while managing user privacy with an element of transparency. Decentralized Identity Solutions (DID): Helping players control their identities and decrease account theft risks. AI-Enhanced Security: Identifying irregularities in user interactions by sampling pattern anomalies to avert hacks and fraud by time-stamping critical events. Interoperable Security Standards: Allowing secured and seamless asset transfers across blockchains and games. With these innovations, blockchain will not only secure gaming assets but also enhance the overall trust and longevity of Web3 gaming ecosystems. Conclusion Blockchain is more than a buzzword in Web3; it is the only way to host security, fairness, and transparency. With blockchain, players confirm immutable ownership of digital assets, there is a decentralized infrastructure, and finally, it supports smart contracts to automate code that protects players and developers from the challenges of digital economies. The threats, vulnerabilities, and scams that come from smart contracts still persist, but the industry is maturing with better security practices, cross-chain solutions, and increased formal cryptographic tools. In the coming years, blockchain will remain the base to digital economies and drive Web3 gaming environments that allow players to safely own, trade, and enjoy their digital experiences free from fraud and exploitation. While blockchain and gaming alone entertain, we will usher in an era of secure digital worlds where trust complements innovation. The Role of Blockchain in Building Safer Web3 Gaming Ecosystems was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story