Stablecoins could become a mainstream payment method in Singapore as regulatory clarity improves.
Ant International, the fintech arm of Ant Group, has applied for a stablecoin license in Singapore, aiming to integrate digital currency into its Alipay+ cross-border payment network. The application comes as MAS finalizes its stablecoin regulatory framework, which includes reserve asset requirements, transparency standards, and redemption guarantees.
If approved, Ant International’s move could revolutionize remittances and B2B payments in Southeast Asia, offering faster settlement and reduced costs compared to traditional banking rails. Stablecoins like USDC and Tether have already proven their utility in crypto markets; now, regulated versions could power mainstream commerce.
Analysts predict that Singapore’s stablecoin market could exceed USD 5 billion in annual transaction volume by 2027, particularly if major e-commerce platforms and travel services adopt the technology.
stablecoin license, Ant International, Singapore fintech, cross-border payments
The BankOpen Singapore Editorial Team consists of financial analysts, banking industry professionals, and experienced writers. We are dedicated to providing accurate, up-to-date, and practical insights to help readers navigate Singapore’s banking landscape and make informed financial decisions.