In response to Hong Kong's burgeoning regulatory framework, Ant Group is strategically positioning itself within the stablecoin market through dual initiatives by Ant International and AntChain. Ant International intends to expeditiously submit a stablecoin license application upon the implementation of Hong Kong's new regulations. Concurrently, AntChain has embarked on the relevant application process and is actively engaging with regulatory bodies. Furthermore, in partnership with Longi Group, AntChain has successfully executed China's first Real-World Asset (RWA) tokenization transaction, leveraging new energy physical assets, thereby broadening the use cases for stablecoins. Currently, Hong Kong and Singapore are at the forefront of stablecoin regulation, while the United States and South Korea are likewise intensifying their respective legislative efforts in this domain.