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Jack Ma-backed Ant Group Co.'s international unit, Ant International, plans to apply for stablecoin licenses in Hong Kong starting in August when the Stablecoins Ordinance takes effect, as well as in Singapore and Luxembourg, according to unnamed sources familiar with the matter.

Jack Ma-backed Ant Group Co.'s international unit, Ant International, plans to apply for stablecoin licenses in Hong Kong starting in August when the Stablecoins Ordinance takes effect, as well as in Singapore and Luxembourg, according to unnamed sources familiar with the matter.
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