Ant International is accelerating its global pivot with plans to apply for stablecoin licenses in Hong Kong, Singapore, and Luxembourg. Ant International — the global arm of Jack Ma-backed Ant Group Co., an affiliate of Alibaba Group and operator of…

Ant International seeks stablecoin licenses in Hong Kong, Singapore, and Luxembourg

Is $170,000 still a valid projection when Bitcoin derivatives show 
concentrated open interest at $140,000, or is the market setting itself up for 
another correction? Softer CPI data fuels BTC recovery attempt Bitcoin (BTC) 
climbed to $110,400 on Jun. 11…

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US Treasury Secretary Scott Bessent told lawmakers that dollar-pegged 
stablecoins could swell to more than $2 trillion in the next few years. He 
spoke at a Senate hearing this week. His outlook came as Congress moved to set 
new rules on how these tokens must be backed. Related Reading: TRX Price Up As 
Tron Rolls Out The Red Carpet For Trump-Backed Stablecoin Growth Forecast 
Details According to Bloomberg, Bessent said a leading industry group expects 
the stablecoin market cap to top $2 trillion. He called that view “very 
reasonable.” It would mean backing up to $2 trillion in tokens with US 
Treasury Bills. Based on reports, Citigroup analysts think issuers might buy 
an extra $1 trillion in those bills by 2030. Treasury Secretary Scott Bessent 
said that dollar-linked stablecoins could hit $2 trillion or even more as he 
reiterated the potential for these digital assets to strengthen the 
greenback’s position https://t.co/HwVRu0aPkT — Bloomberg (@business) June 11, 
2025 Backing Rules Move Forward Lawmakers voted to advance a key amendment to 
the GENIUS Act, which would force stablecoin issuers to hold reserves in top- 
tier assets. The amendment won cloture yesterday. That clears the way for a 
final vote, likely early next week. Supporters say the change will boost 
confidence by ensuring every dollar-linked token has real backing. Market Size 
Today Right now, the total stablecoin market sits at about $255 billion. 
Dollar-pegged coins make up roughly $233 billion of that. That equals 90% of 
the whole market. The top nine dollar-pegged coins include USDT, USDC, USDe, 
DAI, USD1, FDUSD, PYUSD, TUSD, and USDD. They account for nearly all 
stablecoin activity. Challenges Ahead Regulators have work to do. If the 
GENIUS Act stalls or changes, issuers might head to friendlier markets. 
There’s also a risk that a handful of big players could dominate. That could 
create new “too big to fail” worries if a major issuer faces trouble. Plus, 
tech glitches and smart-contract bugs could still trigger runs on tokens. 
Related Reading: Relentless Bitcoin Accumulation: Strategy Snaps Up 1,045 More 
BTC If stablecoin use really takes off in cross-border payments and 
decentralized finance, the US dollar could win new fans overseas. Every $1 
trillion in token issuance backed by Treasury Bills might add to demand for US 
debt. But the path isn’t guaranteed. Lawmakers must iron out rules that 
balance safety with innovation. Issuers need strong risk plans. And users must 
see clear benefits beyond speculation. For now, the market is small compared 
with the broader financial system. But the shift toward programmable money 
keeps pace. Featured image from Sygnum Bank, chart from TradingView

Stablecoins To Hit $2 Trillion? US Treasury Hints At Explosive Growth

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U.S. retail powerhouses Walmart and Amazon are reportedly weighing the launch 
of their own dollar-pegged stablecoins. Per a June 13 WSJ report, the 
companies are said to be exploring how stablecoin launch and integration could 
help streamline payment systems, significantly…