科技巨头暗战：京东蚂蚁为何争抢香港稳定币"入场券"？

marsbitPubblicato 2025-06-14Pubblicato ultima volta 2025-06-15

東與螞蟻集團競相申請穩定幣牌照，主要是為了搶佔數位金融新賽道，結合香港的寬鬆監管政策與全球穩定幣市場的快速增長。香港 2023 年推出的穩定幣監管框架及 2025 年 8 月即將實施的《穩定幣條例》，為企業提供了合規路徑，吸引京東通過幣鏈科技進入監管沙盒，測試跨境支付場景，而螞蟻集團則計劃在香港、新加坡等地申請牌照，佈局全球支付網路。

當前全球經濟環境下，穩定幣市場 2025 年市值已超 2500 億美元，預計 2030 年達兆美元級，特別是在跨境支付和資產代幣化領域需求激增。

京東依託電商和供應鏈優勢，意在降低跨境交易成本；螞蟻則利用支付寶的 10 億使用者基礎，優化全球支付效率。兩者均藉助區塊鏈技術積累，抓住政策紅利和經濟數位化趨勢，力求在數位金融領域佔據先機。

近年來，穩定幣作為區塊鏈技術和數位金融的熱點，正迅速成為全球金融科技企業的戰略焦點。2025 年 6 月，京東和螞蟻集團這兩大中國科技巨頭接連宣佈計劃申請穩定幣牌照，引發市場廣泛關注。

京東旗下幣鏈科技已進入香港穩定幣監管沙盒，而螞蟻集團則計劃在香港、新加坡和盧森堡申請牌照。這一動向不僅反應了中國企業在數位資產領域的雄心，也預示著穩定幣在全球支付和投資場景中的潛力。本文將探討京東與螞蟻集團申請穩定幣牌照的背後原因及其對行業的意義。

穩定幣熱潮與市場機遇

穩定幣是一種價值與法定貨幣或其他資產掛鉤的加密貨幣，因其低波動性和高效跨境支付能力，受到企業和機構的青睞。據報導，2025 年全球穩定幣市場總市值已突破 2500 億美元，預計到 2030 年可能達到 1.6 兆至 3.7 兆美元。香港作為亞洲金融中心，於 2023 年啟動了穩定幣監管框架，並將於 2025 年 8 月正式實施《穩定幣條例》，為企業提供了清晰的合規路徑。

京東和螞蟻集團看準了這一機遇，試圖通過穩定幣牌照搶佔數位金融新賽道。穩定幣不僅能優化跨境支付效率，還能為企業提供新的收入來源，如儲備資產的利息收益。

京東：先行一步，深耕跨境支付

京東通過其子公司幣鏈科技（Jingdong Coinlink Technology）率先進入香港穩定幣監管沙盒，測試跨境支付和投資交易等場景。京東的戰略與其電商生態密切相關。作為中國第二大電商平臺，京東擁有龐大的供應鏈和跨境電商業務，穩定幣可以顯著降低跨境交易的成本和時間。例如，穩定幣能實現即時結算，解決傳統銀行體系中跨境支付的延遲問題。

此外，京東在區塊鏈技術上已有深厚積累。其自主研發的區塊鏈平臺「智臻鏈」已應用於供應鏈金融和物流追蹤，申請穩定幣牌照是技術延伸的自然一步。京東的佈局還可能與其國際化戰略掛鉤，通過穩定幣增強在東南亞等市場的競爭力。

螞蟻集團：全球視野，支付巨頭的新棋局

螞蟻集團作為支付寶的母公司，擁有全球最大的移動支付平臺，覆蓋超 10 億使用者。其國際業務子公司 Ant International 和區塊鏈業務子公司 Ant Digital Technologies 分別計劃在香港、新加坡和盧森堡申請穩定幣牌照。

螞蟻的這一佈局與其全球支付戰略密不可分。支付寶在跨境支付領域的領先地位使其迫切需要更高效的工具，而穩定幣被視為解決跨鏈、跨幣種支付痛點的理想方案。

螞蟻集團還在區塊鏈技術上持續發力。其 AntChain-2 層網路可作為穩定幣交易的結算層，進一步提升效率。此外，螞蟻與德意志銀行的合作表明其在儲備管理和區塊鏈平臺（如 Ant Whale）上的探索，為發行穩定幣奠定了基礎。

共同驅動：監管與市場雙重利好

京東與螞蟻集團競相申請穩定幣牌照的背後，既有監管環境的推動，也有市場需求的驅動。香港的《穩定幣條例》為企業提供了明確的合規框架，降低了進入數位資產市場的風險。與此同時，全球對穩定幣的需求激增，尤其是在機構採用和跨境支付場景中。例如，Circle 發行的 USDC 在 2024 年處理了 8500 億美元的鏈上交易，顯示了穩定幣的巨大潛力。

此外，中國企業對數位資產的謹慎態度正在轉變。儘管中國內地對加密貨幣持限制政策，但香港作為國際金融中心的特殊地位為企業提供了試驗場。京東和螞蟻集團的舉動表明，它們希望通過合規化路徑，在全球數位金融市場中佔據一席之地。

行業影響與未來展望

京東與螞蟻集團的穩定幣佈局將對數位金融生態產生深遠影響。首先，這將推動穩定幣在主流金融中的接受度，加速其從加密交易工具向日常支付手段的轉型。其次，兩大巨頭的入局可能引發更多科技企業跟進，形成行業競爭新格局。例如，微信支付可能面臨更大壓力，促使其探索類似路徑。

未來，隨著香港、新加坡等地監管框架的完善，穩定幣市場將迎來更多創新應用，如供應鏈金融、資產代幣化和跨境投資等。京東和螞蟻集團憑藉其技術積累和使用者基礎，有望成為這一領域的領跑者。然而，挑戰依然存在，包括合規成本、技術整合以及全球監管協調的不確定性。

結語

京東與螞蟻集團申請穩定幣牌照的戰略佈局，是中國科技巨頭在數位金融領域的重要一步。藉助香港等地的監管優勢和全球穩定幣市場的增長潛力，兩家企業正加速構建以區塊鏈為核心的金融生態。無論是京東的跨境電商賦能，還是螞蟻的全球支付野心，穩定幣都將成為它們撬動未來的關鍵槓桿。這場數位金融的賽跑才剛剛開始，值得持續關注。

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