Circle’s Alipay Ambition Could Redefine Asia’s Cross-Border Payments

Circle, the company behind the USDC stablecoin, is reportedly exploring a major move into the Chinese market through a potential integration with Alipay—China’s leading digital payment platform operated by Ant Group. As per a Bloomberg report dated July 10, Circle may collaborate with Ant International, the global division of Ant Group, to bring USDC onto the AntChain blockchain network, potentially enabling its use within Alipay’s vast ecosystem. This partnership would likely take shape after Circle secures full regulatory approval in the U.S. under the recently passed GENIUS Act.

If realized, this integration could offer Alipay’s over one billion users access to USDC, unlocking faster and cheaper cross-border payment options. It could significantly cut transaction costs—currently averaging 7–10% through traditional banking systems—to below 1%, while accelerating settlement times from several days to mere seconds. This would represent a major step forward in globalizing USDC and challenging Tether’s stronghold in the Asian stablecoin market.

However, several hurdles remain. For one, Circle must comply with the GENIUS Act’s rigorous regulatory requirements, including transparency and anti-money laundering measures. On the other hand, Chinese regulators have historically been cautious about the use of foreign-backed stablecoins, which could complicate any USDC rollout in the region.

Despite these challenges, Ant International has shown strong interest in digital asset innovation, actively pursuing stablecoin licenses in jurisdictions like Hong Kong, Singapore, and Luxembourg. With AntChain already handling roughly one-third of Ant Group’s trillion-dollar cross-border transaction volume, the addition of USDC could further scale its blockchain-powered financial infrastructure.

For Circle, this initiative would mark a strategic expansion into one of the world’s most influential fintech landscapes. For Ant Group, it could bolster its ambition to lead in regulated digital finance across Asia and beyond.