China’s Ant Group denies rumors about an RWA and stablecoin joint venture

Ant Group denies rumors of a collaboration between Ant Monetary Expertise and publicly-listed Chinese language firm Hainan Huatie involving partnerships in RWA and stablecoins.

In an official statement shared on the social platform WeChat, the fintech arm of Alibaba addressed rumors circulating about its digital applied sciences arm collaborating with one other Chinese firm to pursue web3-related ventures. The corporate in query is Hainan Huatie, a Chinese language firm that gives AI-computing providers.

In response to the press launch, there’s been widespread hypothesis that the digital expertise agency is gearing up for a cooperation with Hainan Huatie involving stablecoins and real-world assets. The corporate clarified that there don’t have any formal settlement, enterprise association nor undertaking implementation between the 2 events.

As well as, Ant Group additionally took the chance to make clear another rumored false collaborations involving Ant Digital with reference to web3 subjects RWAs and stablecoins.

“As well as, some corporations available in the market have lately overrated scorching ideas comparable to RWA and stablecoins, implying false cooperation with Ant Monetary,” wrote the Ant Group in its launch.

“Traders and companions are suggested to rigorously establish market rumors and take note of funding dangers,” continued the corporate.

The corporate threatened entities spreading misinformation with authorized motion, particularly “unauthorized use of our firm’s title for improper publicity.” Whether or not this declare is expounded to an earlier report on Ant Worldwide in search of stablecoin licenses in Hong Kong, Singapore and Luxembourg, as beforehand reported by crypto.information, stays unclear.

On June 12, an organization spokesperson confirmed that Ant Group’s Worldwide arm has plans to acquire stablecoin issuer license in Hong Kong after the town’s Stablecoins Ordinance takes impact in August 2025.

In response to the brand new regulation, all entities that intend to subject stablecoins pegged to the Hong Kong {dollars} or function within the area should receive a license from the the Hong Kong Financial Authority.