Ant International takes aim at stablecoins; integration with USDC on the cards
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Ant is reportedly eyeing stablecoin licences in Hong Kong, Singapore and Luxembourg.
Kelvin Li, who leads platform technology at Ant International, explained to Reuters that the firm sees stablecoins as a way to streamline international payments and enhance the user experience.
The comment is backed by news from Bloomberg that the company is expected to adopt USDC once the stablecoin clears US compliance requirements.
Based in Singapore, Ant International is expanding its footprint beyond China and views improvements in global payment systems as a key part of that strategy.
The company is also looking to support other digital currencies, including central bank digital currencies and tokenized bank deposits.
Ant processed over $1 trillion in global transactions last year, with roughly one-third handled on its blockchain.
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Reuters
8 hours ago
- Reuters
CK Hutchison ports deal deadline likely to be extended as geopolitics weigh, sources say
HONG KONG, July 25 (Reuters) - CK Hutchison's ( opens new tab plan to sell most of its $22.8 billion ports business is unlikely to be finalised anytime soon, with political brinkmanship set to continue, and sources saying that a Sunday deadline for exclusive talks was likely to be extended. The Hong Kong conglomerate's plan to sell the business, which would include two ports along the strategically important Panama Canal, to a consortium led by BlackRock (BLK.N), opens new tab and Italian billionaire Gianluigi Aponte's family-run shipping company MSC, has become politicised amid an escalating China-U.S. trade war. Negotiations for the deal, which covers 43 ports in 23 countries, are on an exclusive basis between CK Hutchison, controlled by Hong Kong tycoon Li Ka-shing, and the consortium for 145 days until Sunday, according to the terms announced in March. The deal talks, however, are unlikely to collapse if the two parties do not ink a pact by Sunday, with three people close to the ports-to-telecoms conglomerate saying the parties could extend the deadline to continue exclusive negotiations. The first part of the deal - definitive documentation to sell two port operations near the Panama Canal - was also not signed by an April 2 deadline set in the sales announcement. The people declined to be named due to the sensitivity of the matter. BlackRock declined to comment. CK Hutchison and MSC Mediterranean Shipping Company, which CK Hutchison said in May was the main investor in the consortium, did not respond to requests for comment. U.S. President Donald Trump hailed the deal as "reclaiming" the Panama Canal, after his administration previously called for the removal of what it said was Chinese ownership of the ports near the canal. But in April, China's top market regulator said that it was paying close attention to CK Hutchison's planned sale and that parties to the deal should not try to avoid an antitrust review. Beijing's stance on the planned deal was made public after pro-China media launched a stinging criticism, saying China had significant national interests in the transaction and it would be a betrayal of the country. "I think at this moment it's not very optimistic that they can directly sell the ports to the consortium," said Jackson Chan, global fixed income senior manager at FSMOne Hong Kong, which has clients holding CK Hutchison bonds. "The market has already digested the news, even if it announces next week that it won't sell anymore, I don't think it'll be a shock because the market understands it wouldn't have a large impact on its operations." CK Hutchison shares, which jumped 33% the following two days after the deal was announced in early March, erased all of the gains by mid-April. But since then it regained lost ground along with the rise in the broader Hong Kong market index (.HSI), opens new tab. The outlook for the deal has been clouded further in recent days, with a separate source telling Reuters that Chinese ports operator China Cosco Shipping Corp (COSCO) was also looking to join the consortium to buy the ports business. COSCO is requesting veto rights or equivalent power in the entity that will take over 43 ports from CK Hutchison, Bloomberg News reported this week, citing people familiar with the matter. COSCO did not respond to a request for comment. Responding to Reuters' emailed queries on the deal prospects and possible involvement of COSCO in the consortium, a White House official said: "As the president said, we didn't give it to China. We gave it to Panama, and we're taking it back." The official did not elaborate. The existing consortium would likely allow COSCO into the deal, said Cathy Seifert, an analyst at CFRA Research. "The bigger risk to the deal being consummated, in my opinion, is likely the Trump administration, which is likely to block a deal that would include China," said the New Jersey-based analyst who tracks BlackRock. Ballingal Investment Advisors strategist David Blennerhassett, who publishes on the independent online research platform Smartkarma, said the addition of COSCO in the consortium was likely to enrage Trump. "Trump, who has a handful of issues already on his plate, would be incandescent," he said.
BBC News
12 hours ago
- BBC News
Matcha: World's thirst for the tea swallows global supplies
Matcha mania is sweeping the world. The bright green Japanese tea can be found in everything from Starbucks' lattes in the UK to Krispy Kreme doughnuts in global matcha craze is being driven by social media, with influencers sharing brewing tips, reviews and recipes. The "Matcha Tok" hashtag has clocked up tens of millions of growing popularity is also linked to Japan's post-pandemic tourism boom, with the country's weak currency making it an attractive destination as well as boosting demand for Japanese the midst of the hype, demand for the powder is soaring. US-based tea importer Lauren Purvis tells the BBC her customers are seeing what was once a month's supply of matcha running out in days."Some cafes are even asking for a kilo a day. They're desperate to keep up," says Ms Purvis, who runs Mizuba Tea that surging demand, combined with smaller tea crops due to heatwaves and US tariffs on Japan, is also pushing up matcha prices. Traditionally, Matcha - which is sought for its health benefits, caffeine and flavour - is the product of a centuries-old and highly-specialised is made from green tea leaves called tencha, which are kept under shade for weeks while they're still growing. This step is crucial for developing the tea's signature "umami" flavour - a savoury taste that complements its natural leaves are harvested, dried and ground into powder using stone mills, which can produce just 40g (1.4oz) of matcha an in recent months growers have struggled, as record-breaking heatwaves have hit the Kyoto region, where about a quarter of Japan's tencha comes from, hot weather has led to poor harvests even as demand country also faces a shortage of farmers as its population ages and not enough younger people go into the in Uji, a city in Kyoto famous for matcha, often see their shelves emptied by tourists as soon as their doors a result, many retailers have set limits on how much customers can Camellia Tea Ceremony allows customers to purchase only one tin of matcha each as visitor numbers doubled over the last year, says director Atsuko master Rie Takeda says she also has to closely monitor her stocks of matcha, as orders that would previously arrive in just days can now take more than a works for Chazen, a tea ceremony chain based in Tokyo, which hosts traditional rituals serving matcha to guests. Shortages mean tea prices at Chazen's outlets have risen by around 30% this year."[The demand] is good," Ms Takeda said through a translator. "It's a gateway for more people to know about Japanese culture."It has also attracted more production nearly tripled between 2010 and 2023, according to Japan's agricultural also says green tea exports, including matcha, also rose 25% last year to 36.4bn yen (£180m; $250m). Savour, not hoard The matcha craze has sparked a movement to promote more mindful call out people they see as hoarding matcha or profiteering from its popularity. Others urge tea drinkers to be careful about how much they use, and to savour matcha in its purest form rather than as an ingredient in "a bit sad" to see high-grade matcha used in cooking - where its delicate flavour is often lost - or stockpiled for resale, said Ms Mori."Matcha is the highest grade of tea and it's so special to us. So there's a bit of a contradiction when I hear stories about how it's resold or used in food." The Global Japanese Tea Association is encouraging people to use lower-grade matcha from later harvests, which is more abundant and better-suited for matcha often loses its delicate flavour when used in drinks like lattes, it adds."Promoting awareness of these distinctions helps ensure Japanese tea is enjoyed with respect, while supporting the craft and tradition behind it," the association also says matcha prices are likely to rise further due to tariffs the US is imposing on Tuesday, Washington and Tokyo announced a trade deal that will mean a 15% import tax on Japanese products going into the distributors like Ms Purvis are bracing for the impact. The Oregon-based entrepreneur says orders surged by more than 70% in early July ahead of a deadline for the two countries to reach a trade agreement."As Japanese tea is not grown in the US, there is no American industry under threat that tariffs need to protect," she said. "We hope there will be a realisation that specialty tea should be exempt."Even as soaring demand and limited supplies push up prices, there is some light on the least one matcha cafe chain thinks prices could ease in the future - although not for a while."Low quality matcha is selling for a high price, and we think that this will no longer be a viable business," Masahiro Nagata, co-founder of the Matcha Tokyo, told the BBC."There is a boom at the moment and demand is growing rapidly, but we think that will calm down a bit in two to three years."
Times
15 hours ago
- Times
Newcastle target £70m Sesko but insist Alexander Isak is not for sale
Newcastle United remain adamant that Alexander Isak is not for sale, despite a breakdown in talks about a new contract and the player's desire to explore possible moves. Senior Newcastle officials are steadfast in their position and maintain that they have not received a bid for the Sweden forward, now the subject of strong interest from the Premier League champions, Liverpool. Newcastle, eager to strengthen and not weaken their squad before a return to the Champions League, are targeting the RB Leipzig forward Benjamin Sesko, although it is unclear if they will meet the £70million asking price before the Isak situation is resolved. Leipzig failed to qualify for Europe this season and are thought to be open to a sale. Newcastle have scouted the 22-year-old Slovenia player extensively, with great reports. Newcastle's players have arrived in Singapore, where they will play friendly matches against Arsenal, a K-League XI and Tottenham Hotspur, without the 25-year-old Isak, who has not travelled. Liverpool have privately insisted they will make a move for a forward who scored 27 goals last season only if they are given encouragement by Newcastle. That was certainly not forthcoming on Friday, with Newcastle digging in their heels to repeat the message, from the very top of the club, that the player is not for sale. Contract talks about improving the six-year deal Isak signed when he joined Newcastle for £63million in the summer of 2022 were always planned for this summer. Only then could Newcastle, free of the headlock of the Premier League's Profitability and Sustainability Rules, emphatically break their own pay structure, very much on the understanding that Isak deserved that special status and that a substantial pay rise would not unsettle the dressing room. So far that has not been able to tempt Isak or his agent, Vlado Lemic, to extend or improve his contract at St James' Park. The player is holding out for the £300,000-a-week wages he believes he could get at Anfield. The reason given for Isak missing the club's pre-season tour to Asia (a thigh injury) was criticised by Alan Shearer. The Swede had also returned home last weekend instead of being part of Newcastle's squad at Celtic Park and was then pictured training on his own on Monday. A scan on his thigh came back clear. Liverpool have already made one call to Newcastle to inquire about the availability of Isak and were told emphatically that the forward is not for sale. That was 11 days ago but it has so far not deterred them. Newcastle, who have missed out on João Pedro and Hugo Ekitike, faced further frustration when James Trafford, a player they have chased for 12 months and for whom they submitted a £27million bid, joined Manchester City on Friday. Eddie Howe, the Newcastle head coach, has admitted this is becoming an extremely difficult transfer window. Newcastle are also yet to return with an improved bid for the Brentford striker Yoane Wissa, having had a £25million offer turned down during the week. Their only summer recruit so far has been Anthony Elanga, signed from Nottingham Forest for £55million. Newcastle are close to announcing the appointment of David Hopkinson as chief executive and Ross Wilson as sporting director.
