Ant International, an affiliate company of Chinese conglomerate Alibaba Group and a leading provider of digital payment and financial technology, refuted media reports suggesting a potential collaboration on stablecoin initiatives with Circle, a globally renowned stablecoin issuer based in the United States.
Ant International said in a statement to China Daily on Friday that such reports were inaccurate, and confirmed that it currently has no plans for such cooperation. The response came following speculation about a possible partnership between the financial technology firm and the stablecoin issuer.
READ MORE: HK stablecoin license attracts big names
Ant Group is reported to have processed more than $1 trillion of global transactions last year, one-third of which were handled by its blockchain. Ant International has disclosed its intention to apply for authorization to operate as a fiat-referenced stablecoin issuer in Hong Kong.
