Ant Group's international arm, Ant International, plans to apply for a stablecoin issuance license in Hong Kong, coinciding with new regulatory approvals. This initiative is part of a broader strategy to enhance its blockchain operations, potentially tapping into a market where it processed over $1 trillion in transactions last year. The move reflects a growing trend of institutional interest in stablecoins, as other major players like JD.com and Standard Chartered also enter the fray, signaling an impending competitive landscape in the stablecoin sector.