Ant Group applies to register the "AntCoin" trademark in Hong Kong

Foresight News reported, citing CoinDesk, that Ant Group, the financial technology giant affiliated with Alibaba and the parent company of Alipay, has submitted a trademark application for "AntCoin" in Hong Kong, suggesting it may be planning to expand into blockchain-based financial services and stablecoin business. The application was submitted in June.

According to previous Foresight News coverage, citing Lianhe Zaobao, sources said that Chinese tech companies such as Ant Group under Alibaba and e-commerce giant JD.com have suspended their plans to issue stablecoins in Hong Kong. In May this year, Hong Kong passed the "Hong Kong Stablecoin Bill," which will officially take effect on August 1. As of the end of September, a total of 36 institutions had submitted stablecoin license applications. Ant Group stated in June this year that it would participate in Hong Kong's stablecoin pilot project, and JD.com also said it would join the pilot program.