According to the source, a social media post on Oct 27, 2025 claims Alibaba-backed Ant Group filed an ‘Antcoin’ trademark in Hong Kong, but independent registry confirmation is pending. Source: social media post dated Oct 27, 2025; Alibaba Group annual filing 2023; Hong Kong Intellectual Property Department trademark search. Mainland China continues to prohibit cryptocurrency business activities nationwide under the Sept 24, 2021 joint notice, pushing crypto activity to regulated offshore hubs. Source: People’s Bank of China 2021 notice on preventing cryptocurrency risks. Hong Kong operates a separate virtual asset licensing regime effective June 1, 2023, allowing compliant platforms and tokenization pilots that traders track for corporate participation signals. Source: Hong Kong Securities and Futures Commission virtual asset trading platform regime. For trading, monitor the HK trademark record for class coverage and status, any related submissions to the SFC or Hong Kong Monetary Authority, and disclosures from Alibaba Group or Ant Group, as confirmations could affect Asia-session sentiment around China tech–linked crypto narratives. Source: Hong Kong IPD trademark search; SFC and HKMA public registers; Alibaba Group filings.

According to the source, Financial Times reported that Chinese tech firms including Ant Group and JD.com have paused their stablecoin plans in Hong Kong after local regulators raised concerns about privately controlled currencies, Financial Times. Financial Times stated that these regulatory concerns prompted the companies to halt stablecoin rollout efforts in the Hong Kong market, Financial Times.

According to @MilkRoadDaily, Base currently has about 12 million monthly active addresses, a key activity metric for Layer-2 networks (source: @MilkRoadDaily). According to @MilkRoadDaily, Alipay has approximately 1.4 billion users, underscoring a large potential onboarding pool tied to Ant Group’s ecosystem (source: @MilkRoadDaily). According to @MilkRoadDaily, if 1 percent of Alipay’s user base were onboarded to the newly launched Jovay L2, that would imply roughly 14 million users, exceeding Base’s current monthly active addresses by count if realized (source: @MilkRoadDaily). According to @MilkRoadDaily, Ant Group has announced only the launch of the Jovay L2 so far and has not disclosed a direct Alipay integration at this time (source: @MilkRoadDaily).

According to @timnitGebru, the cryptocurrency market is experiencing several pivotal shifts with significant trading implications. Polygon (MATIC) is undergoing a major strategic overhaul, with co-founder Sandeep Nailwal taking control as CEO of the Polygon Foundation to focus on the AggLayer cross-chain liquidity protocol while retiring its zkEVM network, according to a press release. In a major move for institutional adoption, Ant Group's international unit plans to apply for stablecoin licenses in Hong Kong and Singapore, as reported by Bloomberg. For Bitcoin (BTC), developers confirmed on GitHub that the upcoming Bitcoin Core version 30 will increase the OP_RETURN data limit from 80 bytes to nearly 4MB, a change that could significantly impact how data is stored on the blockchain. Meanwhile, the Ethereum Foundation has established a new treasury policy, capping annual operational expenses at 15% to ensure long-term sustainability for the Ethereum (ETH) ecosystem, as detailed in a foundation blog post. The Real-World Asset (RWA) sector also saw a key development with Plume launching its Genesis mainnet to bring asset-backed DeFi to the forefront. These developments occur as market data indicates Bitcoin (BTC) trading around $107,043.