China’s Payment Giant Ant Group Files Crypto Trademarks in Hong Kong

Ant Group filed crypto trademarks in Hong Kong including “ANTCOIN” for virtual assets and blockchain, signaling Web3 ambitions despite Beijing halting its stablecoin plans over monetary control concerns.

Ant Group, the fintech powerhouse behind Alipay, has filed trademarks in Hong Kong this year for virtual assets, stablecoins, and blockchain, including “ANTCOIN.”

This, as many have speculated, is a signal to potential expansion into Web3 despite Beijing’s recent regulatory warnings that forced the company to pause its stablecoin issuance plans.

The trademark applications come as Chinese technology firms race to secure intellectual property in the digital asset space, even with tightening regulatory oversight.

Hong Kong Stablecoin Ambitions in Limbo

Ant Group’s trademark moves follow a dramatic reversal in its stablecoin strategy earlier this year.

In June, the company announced plans to apply for stablecoin licenses in Hong Kong, Singapore, and Luxembourg once Hong Kong’s new regulatory framework took effect in August.

JD.com similarly pursued offshore yuan-oriented stablecoins through Hong Kong’s pilot program for fiat-backed tokens.

Regulators expressed concern that large tech firms issuing currency-like tokens could undermine the central bank’s monetary authority, insisting that the right to issue money must remain exclusively with the state, not private companies.

Former PBoC governor Zhou Xiaochuan reinforced the cautious stance at a closed-door forum in late August, warning that “stablecoins could easily become vehicles for speculation or fraud,” while questioning their value for everyday retail payments.

Blockchain Becomes Cornerstone of International Strategy

Despite regulatory setbacks at home, Ant has aggressively expanded its blockchain infrastructure globally.

The company’s Whale blockchain processed roughly one-third of the over $1 trillion in transactions handled by its global payments platform last year.

In July, Ant partnered with Circle Financial to integrate USDC onto its blockchain platform, aiming to enhance cross-border payment efficiency for its merchant network.

Ant Digital, the company’s blockchain arm, has pioneered the tokenization of real-world assets in China’s renewable energy sector.

The unit has connected over 60 billion yuan worth of energy-related assets to AntChain, helping companies like Longshine Technology Group and GCL Energy Technology raise hundreds of millions of yuan by offering digital tokens representing fractional ownership in charging stations and solar installations.

Executives are now considering extending this approach to offshore exchanges to create liquidity for the tokens, pending regulatory clearance.

The company’s overseas arm reported close to $3 billion in revenue in 2024, posting profits for two consecutive years and establishing an independent board to prepare for a potential spin-off and listing.