Cache Wallet, a self-custody crypto wallet that allows users to have complete control over their cryptocurrency assets, today announced a strategic partnership with ANT-FUN, a DEX (decentralized exchange) platform that enables people to trade directly across numerous decentralized platforms. This pa

Standard Chartered and Ant International launch tokenized deposits in Hong Kong, enabling real-time liquidity, multi-currency transfers, and regulated blockchain-based treasury operations. Standard Chartered Bank Hong Kong and Ant International have launched a real-time tokenized deposit

Standard Chartered moved real SGD and USD bank balances on-chain for Ant via tokenized deposits on the Whale platform. The system enables near real-time, 24/7 treasury transfers across Singapore and Hong Kong using regulated infrastructure. Built from MAS Project Guardian, the solution

At 24 years old, entrepreneur Lin Yuanlin from Taoyuan, Taiwan, graduated from the Computer Science Department of Zhejiang University in 2023 and previously interned as a front-end engineer at Ant Group. During his university years, he took on numerous outsourced development projects but found that the real time-consuming aspect was not coding, but deployment and delivery. This led him to transform what was originally regarded as a graduation project that would be shelved after completion into an AI startup that spans across Taiwan and the United States, gaining favor with Silicon Valley venture capitalists. Recently, he shared his insights on his journey in the YouTube channel Kelly Tsai. The cloud deployment platform Zeabur (formerly known as Zeebird), founded by him, has recently completed a $2 million seed round financing led by the well-known American venture capital firm 500 Global. Currently, the registered users have exceeded 100,000, with about 5,000 paying users. The product has been featured in the world's largest product.

Gate Research Institute Daily Report: December 15 — The overall crypto market continues to face pressure, with BTC and ETH maintaining low-level consolidation, while GT shows relative resilience. Under the weak performance of mainstream coins, tokens such as FHE, ICE, and BAS have reversed trends and strengthened amid catalysts like privacy computing collaborations with Chainlink, token migrations and mainnet transitions, as well as ERC-8004 protocol upgrades, reflecting a concentrated battle for structural opportunities among funds. The structural selling pressure in the options market still suppresses BTC upside momentum. The divergence between ETF bullish demand and OG holders selling volatility suggests that BTC is more likely to remain in short-term consolidation rather than make rapid breakthroughs; Ant International is reconstructing corporate treasury management systems through blockchain, AI, and tokenized deposits; after the mainnet launch of Stable, on-chain activity has been below expectations, highlighting ongoing challenges for the differentiated implementation of stablecoin public chains.

XRP is once again capturing investor attention as it eyes the $3 mark, with more optimistic XRP price prediction models even targeting $5. However, with the slow momentum in the market, traders have grown impatient and are looking towards early-stage opportunities that could deliver impressive

Highlights of This Issue The statistical period for this issue covers November 14-20, 2025. This week, the RWA market showed a phase of adjustment, with the total on-chain market value increasing slightly to $35.67 billion, and the growth rate slowing significantly. However, the number of holders grew against the trend, reflecting a market shift from scale expansion to deepening engagement with existing users. The total market value of stablecoins declined slightly, while transaction volume and monthly active addresses remained high, highlighting the rigid demand for on-chain payment and settlement. The market has entered the "stock optimization" phase. Regulatory frameworks continue to improve: The US FDIC is preparing guidelines for tokenized deposit insurance, and a Russian court will rule on the property rights of USDT, solidifying the legal foundation for stablecoins and RWAs from both judicial and insurance perspectives. On the project front, companies under Jack Ma have been active: Alibaba's cross-border division plans to launch a stablecoin-like payment system, Ant International and UBS will cooperate in cross-border payment settlements, and Ondo Finance has received EU approval.

UBS’ alliance with Ant International accelerates real-time tokenized deposit adoption, promising faster global liquidity, heightened transparency, and expanded multi-currency access as both giants integrate advanced blockchain platforms to elevate institutional efficiency and reshape global

In the wave of global fintech, the application of Blockchain technology is quietly shifting from the controversial Crypto Assets to fields with more practical application value. Recently, a series of actions by Chinese tech giant Alibaba and its affiliate Ant Group have drawn the market's attention to a new and critical concept - "Deposit Token" or "tokenization of deposits." This not only signifies a disruptive transformation in the cross-border payment sector but also reflects how large tech companies cleverly seek Compliance innovation paths under strict regulatory environments. It has been reported that Alibaba is collaborating with JPMorgan to utilize tokenized US dollars and euros for payments, while its affiliate Ant International is partnering with Swiss banking giant UBS to launch a tokenized deposit pilot in Singapore. This series of arrangements clearly indicates that a

UBS ( and Ant International officially signed a memorandum of cooperation on 11/16 and launched a large-scale "tokenization of bank deposits" pilot in Singapore, hoping to address the most troublesome latency issues in cross-border financial scheduling, allowing internal multinational remittances for enterprises to no longer be restricted by cut-off times, multi-currency settlements, and different business hours in various countries. UBS teams up with Ant International to launch a tokenization pilot in Singapore. The collaboration between both parties takes place in Singapore, a global hub for institutional-level blockchain testing, to jointly promote the application of "tokenization of bank deposits" in cross-border payments and global liquidity management. UBS plans to expand the usage of its digital currency platform "UBS Digital Cash" through this collaboration, while Ant International hopes to integrate the technology into Alipay+'s cross-border financial operations, making the account transfers between subsidiaries in different countries more efficient. Tokenization collaboration focuses on three major aspects

Investment bank UBS has entered a strategic partnership with financial technology company Ant International to explore tokenized deposits for real-time cross-border payments and global liquidity management, marking a notable expansion of the Swiss bank’s blockchain-based digital cash platform

On November 14, 2025, the stablecoin protocol R25, incubated by Alibaba's Ant Group, officially launched the rcUSD+ yield-bearing stablecoin on the Polygon network. This innovative product provides holders with real-world asset (RWA) yield sources by configuring low-risk institutional-grade assets such as money market funds and structured notes. The choice of the Polygon network for this initial launch is based on its low fee advantage and its ability to handle billions of dollars in stablecoin transactions each month, marking a key breakthrough in the deep integration of traditional finance yields with DeFi composability.

R25 has launched rcUSD+, a stablecoin on Polygon that generates yield from conservative real-world assets like money market funds. This initiative aims to integrate traditional financial returns into decentralized finance, enhancing liquidity and transparency in the RWA market.

R25, backed by Ant Financial, has launched an on-chain platform with Polygon, introducing rcUSD+, a stablecoin pegged to USD that generates interest from traditional financial instruments. This move aims to enhance DeFi efficiency and attract institutional interest in tokenized real assets.

The stablecoin and real-world asset (RWA) protocol R25 incubated by Ant Financial has launched its on-chain platform, with Polygon as its first blockchain partner, introducing a new type of yield stablecoin backed by TradFi instruments. The first product rcUSD+ aims to maintain a 1:1 dollar peg while providing yields sourced from money market funds and structured note portfolios.

According to Mars Finance, Hong Kong stablecoin concept stock Yuacai Securities announced that the acquirer Ant Group is considering possibly extending the final deadline for the transaction. According to the acquisition agreement established by both parties in April, the original deadline for the transaction was set for November 25, 2025, but the acquirer has the right to extend the transaction date. It is reported that this transaction requires approval from the Hong Kong Securities and Futures Commission and the National Development and Reform Commission, but it may currently be impossible to meet all transaction conditions before November 25.

Stablecoins are a special type of cryptocurrency that maintain price stability by anchoring to a stable asset such as the US dollar, gold, other fiat currencies, or crypto assets. They aim to address the excessive price volatility of traditional cryptocurrencies like Bitcoin and Ethereum. Stablecoins retain the advantages of blockchain technology, such as decentralization and efficient cross-border payments, while reducing volatility through reserve assets or algorithmic mechanisms, serving as a "bridge" connecting traditional finance and the crypto world. By 2025, stablecoins will have upgraded from being just "connectors" of crypto assets to a new infrastructure for global payments. Their total market capitalization will surpass $250 billion, with trading volumes exceeding the combined volumes of Visa and Mastercard. Tech giants like JD.com and Ant Group are rushing to enter the market, and the US and Hong Kong are accelerating legislation. According to Citi, by 2030, the scale of stablecoins will reach between $1.6 trillion and $3.7 trillion. The popularity and development prospects of stablecoins are not to be underestimated. However, as a crypto asset,

According to Mars Finance, the Hong Kong listed company Hong Kong and China Gas has announced that it has obtained a credit facility of HKD 100 million from Chuangxing Bank to complete the RWA tokenization project with underlying assets. It is reported that the project is supported by Ant Group's Jovay Layer2 Blockchain, and subsequent key financial and operational data will be instantly uploaded to the chain.

Zhaojin Mining has signed a strategic cooperation memorandum with SigmaLayer, a subsidiary of Ant Group, to collaborate based on Blockchain and artificial intelligence technologies. This cooperation will involve the digitization of gold assets, smart Supply Chain, and sustainable development, with specific activities needing to comply with Compliance and security.

In the context of the unprecedented convergence of global financial technology and decentralized technology, a profound transformation is quietly brewing. Recently, Chinese fintech giant Ant Group officially launched its new Layer-2 scaling network based on Ethereum—Jovay. This move not only signifies that this commercial empire, with its vast user base of 1.4 billion on Alipay, is officially embracing public blockchain but also heralds the potential for a massive influx of users into the Ethereum ecosystem, painting a new possibility for the future landscape of global financial infrastructure. Jovay Core Narrative Jovay is developed by the blockchain technology division "Ant Digital" under Ant Group. According to the official definition, Jovay is a "compliance-first, AI-assisted scaling network," with its core mission to bridge real-world assets (Real-Wor

A Beijing court sentenced five individuals to 2-4 years in prison for operating an illegal forex scheme that laundered over $166 million using USDT. This case highlights China's crackdown on cryptocurrency-related money laundering and stablecoins, with the central bank warning of their global financial risks. Subsequently, Ant Group and JD.com canceled plans to release stablecoins in Hong Kong.

Hong Kong was once a hotbed for stablecoin innovation, being the first to introduce a licensing system, but tightening regulations in mainland China have caused tech giants to hit the "pause button", shifting the market from a sprint to a wait-and-see approach. The People's Bank of China (PBOC) recently summoned several mainland companies under its supervision, requiring them not to advance their Hong Kong stablecoin plans before receiving instructions from the central bank. Ant Group and JD.com have both suspended their stablecoin issuance plans in Hong Kong, while a subsidiary of China Merchants Bank even removed its statement regarding the tokenization fund in cooperation with Binance.

Ant Group filed trademark applications in Hong Kong, including ANTCOIN, covering virtual assets, stablecoins, and many other crypto sectors.

In today's rapidly changing landscape of global digital assets, the actions of traditional finance and big tech are closely watched by the market. The cryptocurrency market is no longer the exclusive stage for new startups; a "power game" involving billions of dollars in capital is unfolding, and mergers and strategic layouts by mainstream institutions have become the new normal. Against this backdrop, China's fintech giant—Ant Group—recently registered the "AntCoin" trademark in Hong Kong, which is seen not only as a declaration of its ambitions in the Web3 space but also sparked endless speculation in the market about whether it plans to issue its own crypto assets. a trademark According to the information released by the Hong Kong Intellectual Property Department, Ant Group, a subsidiary of Alibaba Group, applied for a series of trademarks related to "AntCoin" in Hong Kong this June. Although the registration of trademarks does not equate to the upcoming issuance of coins, it is merely a protective registration at a legal level, but its

Ant Group's "AntCoin" trademark suggests a strategy to integrate Alipay with Hong Kong's regulated Web3 and stablecoin markets, indicating a shift toward merging traditional finance with crypto in Asia's digital asset landscape.

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 recently submitted a trademark application for "AntCoin" in Hong Kong, which is seen as a strong signal of its full entry into the Blockchain Financial Service and Crypto Assets market. The trademark covers a wide range of financial services, including stablecoin issuance, digital asset custody, lending, and Blockchain Settlement, aligning closely with the new stablecoin regulatory framework that took effect in Hong Kong in August. This strategic layout coincides with Ant Group Chairman Jing Xiandong's planned speech on future developments in the encryption field at the Hong Kong FinTech Week next week, where the market expects clearer details of the Web3 strategy to be announced.

Ant Group has filed a trademark for “ANTCOIN” in Hong Kong, indicating plans to enter the cryptocurrency market. This filing covers a range of financial services and aligns with its existing blockchain initiatives, hinting at potential future developments in digital finance.

Ant Group's self-hosted wallet TOPNOD has entered public testing overseas, allowing users to trade crypto assets through third-party platforms. It is currently available in regions such as Singapore but is not offered in Hong Kong. The group has also applied for multiple trademarks related to crypto assets.

Zhao Changpeng: Will focus on YZi Labs investment business in the future; invited to serve as a crypto industry advisor to multiple national leaders According to Caixin, Binance founder Zhao Changpeng confirmed on October 25th that U.S. President Donald Trump has signed a pardon order for him. Zhao Changpeng stated that he will continue to dedicate his efforts to the family office YZi Labs investment business, and he has also been invited to serve as a crypto industry advisor to leaders of several countries. ETH breaks through $4,200, up 3.12% today OKX market data shows that ETH just broke through $4,200, currently trading at $4,202.15 per coin, with a daily rise of 3.12%. Hong Kong media: Ant Group has applied for Web3-related trademarks such as "ANTCOIN" in Hong Kong According to the Hong Kong Economic Daily, after reviewing documents, it was found that Ant Group has applied to register a series of virtual assets, stablecoins, and blockchain-related trademarks in Hong Kong.

Ant Group has filed for trademarks related to digital assets and blockchain, including "ANTCOIN," indicating its expansion into fintech. While benefiting from Hong Kong's open digital finance policies, it faces legal barriers, especially for stablecoin licensing, as the HKMA prioritizes established businesses. Expectations are high for new digital financial products.

Ant Group and JD.com stopped stablecoin plans in Hong Kong due to pressure from Chinese mainland regulators. Beijing wants full control over currency issuance and does not support private firms issuing stablecoins. Hong Kong’s new stablecoin rules caused fraud concerns and led to caution among

On August 1, Hong Kong implemented the "Stablecoin Ordinance," and 36 institutions have applied for licenses. Recently, due to regulatory concerns, many mainland enterprises have suspended their stablecoin plans, but it is expected that Hong Kong's policies will not be substantially affected, and the outlook for the approval of US dollar and related asset-backed stablecoins is optimistic. In the future, Hong Kong's financial system may form a dual-track system to promote the internationalization of the Renminbi.

Ant Group and JD.com have suspended their stablecoin-related projects and tokenization financial product plans in Hong Kong. This move is in response to the requirements of regulatory authorities in mainland China, including the People's Bank of China (PBoC) and the Cyberspace Administration of China (CAC), indicating Beijing's extremely cautious stance towards offshore digital asset activities involving private enterprises. The core regulatory controversy lies in the issuance rights of digital currency, with mainland authorities clearly stating that any private participation in currency issuance, even in Hong Kong, will still be subject to strict supervision.

The Financial Times reported on October 19 that after concerns were raised by China regarding the rise of privately controlled currencies, Chinese tech giants have suspended plans to issue stablecoins in Hong Kong. Several companies, including the Alibaba-backed Ant Group stablecoin and the e-commerce giant JD's stablecoin, had expressed intentions to participate in Hong Kong's stablecoin pilot program this summer.

Ant Group has launched Jovay, a high-speed Layer-2 network on Ethereum, connecting traditional finance with blockchain. Designed for real-world asset tokenization, it uses advanced technology to ensure privacy and high transaction speed, signaling a shift towards public blockchains in global finance.

Ant Group, led by Jack Ma, launched the Ethereum-based Layer-2 blockchain Jovay on October 14, aiming to achieve 100,000 transactions per second. This Ant Group L2 focuses on the tokenization of real-world assets, adopts a compliance-first strategy, and does not issue a native Token, bringing the immense potential of Alipay's 1.4 billion users to Ethereum, which could fundamentally change the global financial infrastructure.

The decentralized trading platform ANT.FUN completed a B1 round of financing led by mimStream Investment on October 15, raising millions of dollars. mimStream Investment focuses on the AI and Web3 sectors, and the funding will help ANT expand its social media traffic and launch short video and live streaming features.

During the Chuseok holiday in South Korea (October 3 to 9, 2025), when the domestic market is closed, South Korean retail investors transferred approximately $1.24 billion in funds to overseas markets. This wave of investment primarily flowed into high-risk, leveraged products and encryption-related assets, demonstrating the strong desire of South Korean investors for quick returns, even amidst signs of weakness in the global market. Among them, the Direxion Daily Tesla Bull 2X ETF received inflows of $151 million, while Bitcoin mining company Iris Energy attracted $105 million, highlighting the concentrated bets on technology and digital assets.

Author: Zhang Feng In today's era, a striking trend is becoming increasingly apparent: tech giants like Google, Microsoft, and Ant Group are collaborating with top research institutions in finance and law with unprecedented enthusiasm. What strategic logic is hidden behind these seemingly cross-border or even "cross-domain" collaborations? In the emerging and complex field of the cryptocurrency industry, why does such cooperation appear particularly urgent? We believe it is necessary to delve into the driving forces behind this phenomenon and further outline the roadmap for future development for both parties. 1. The Internal Logic of the Marriage Between Technology Giants and Financial Legal Research The collaboration between tech giants and financial and legal professional institutions is not a coincidence, but an inevitable choice at a specific stage of the development of the digital economy, which contains profound business logic and strategic considerations. First, compliance has become a prerequisite for the development of technology businesses. With the deepening development of the global digital economy,

Mars Finance reported that Longxin Technology has put electric vehicle charging infrastructure on the chain through Ant Chain and raised 100 million yuan, promoting the development of RWA. Piggycell adopts a revenue rights separation structure, focusing on shared power banks and on-chain applications, and plans to expand to electric bicycles, achieving good progress through NFT binding and a charging-to-earn model.

The cryptocurrency market is set to welcome a wave of coin issuance in 2025, from the Meteora of the Solana ecosystem (TGE on October 23) to the high-performance public chain Monad (Airdrop available from October 14), and to the RWA public chain Pharos with an Ant Group background, NFT leader OpenSea, and wallet giant MetaMask, a total of 11 heavyweight projects will successively issue coins.

HSBC has launched its Crypto Deposit Service in Singapore, expanding beyond Hong Kong. Ant International is the first to execute real-time digital token transactions in SGD and USD using distributed ledger technology, enhancing asset management and enabling 24/7 payments.

The Hong Kong Monetary Authority (HKMA) will officially close the application for the stablecoin issuer license at 24:00 on September 30, with 77 applications entering the final "countdown" stage. According to several individuals close to the approval team, the first round of licenses will "most likely" issue only 3 licenses, and the "material supplementation window has been closed all at once, and no further updates will be accepted." This 13-month-long legislative range-bound, 7-month sandbox sprint, and 4 rounds of regulatory inquiries "compliance marathon" is about to reach its conclusion.

Ant International, the cross-border payment technology division of Ant Group, is quietly revolutionizing the traditional Treasury Management field using artificial intelligence and Blockchain technology. The AI model developed by the company can predict its forex demand with 90% accuracy through deep learning and multidimensional data input, significantly optimizing the costly and time-consuming cross-border capital conversion process. The system began operating in 2024 and processed $1.1 trillion in capital flows throughout 2023. By bypassing the traditional Swift interbank payment system, Ant International has not only reduced transaction times to about 30 seconds but also helped clients reduce their daily cash holdings by up to 60%, adding significant momentum to its story of spin-off listing.

Former Chinese billionaire Zhao Changpeng recently delivered a speech at the University of Hong Kong and at Bitcoin Asia 2025, which I believe many crypto world friends have seen. From the defendant's seat in the Seattle Federal Court to now being the main speaker at the Hong Kong venue, Zhao Changpeng's trajectory this year has been quite tumultuous. His choice to appear in Hong Kong at this moment precisely aligns with the key node of Hong Kong's crypto regulation—the formal implementation of the Stablecoin Regulation, with tech giants like Ant Group and JD.com vying to enter the stablecoin arena. This article will provide a deep summary of Zhao Changpeng's core speeches at the two meetings in Hong Kong, linking the background of Hong Kong's "traditional experience + institutional innovation," seeking to find the bridge between traditional finance and on-chain value, and exploring potential compliance paths and the next opportunities for Web3 projects in the future. 1. What are the three major challenges of RWA and what is the main theme? The imagination space of RWA is very large, and it has been very popular recently. Kaisa Capital (00936.HK)

Jiang Guofei, former Ant Group leader, was appointed as Chair of Yunfeng's Web3 Development Committee, highlighting the group's blockchain strategy. Yunfeng also invested $44 million to buy 10,000 ETH, reflecting growing interest in Ethereum among Asian organizations.

While everyone's attention is focused on internet giants like JD.com, Ant Group, and Tencent competing for stablecoin licenses in Hong Kong, an unexpected figure is quietly approaching the table—Huang Guangyu and his Gome. The former richest man in China, now with his retail empire, could become a dark horse in the battlefield of the renminbi stablecoin, overturning our inherent understanding of the Web3 financial landscape.