Asia has become an increasingly contested area for geopolitical competition in regards to digital asset innovation. Countries like China and Singapore have positioned themselves as key players within Asia and throughout the world. As the global race for economic growth continues by leveraging momentum in digital assets, super-apps like AliPay, Grab, and Japan’s emerging platforms are quickly becoming the key to digital asset adoption across Asia and potentially the rest of the world. While Hong Kong and Singapore are commonly recognized as global crypto hubs, Asia’s super-app ecosystem is unique in the way that it can ultimately redefine the region’s leadership in the global digital economy. This shift matters especially for Hong Kong, with its deep history of innovation via government-backed initiatives such as on-going e-HKD experiments and stablecoin legislation. With Hong Kong in mind, super-apps’ widespread use, cross-border reach, and established digital payment infrastructure have become the new battlefield in the ongoing contest for digital infrastructure sovereignty. on-going e-HKD experiments on-going e-HKD experiments stablecoin legislation stablecoin legislation AliPay and WeChat’s role in China and Hong Kong AliPay and WeChat’s role in China and Hong Kong The dynamic surrounding Web3 in mainland China remains extremely challenging, particularly given China’s immense blue ocean market opportunity for digital asset adoption despite cryptocurrency transactions and mining remaining banned in China. banned banned On one hand, Beijing’s continued utilization of Hong Kong as an experimental ground of sorts to pilot digital asset transformations has resulted in Hong Kong leading a variety of digital asset initiatives, such as Hong Kong’s passage of its stablecoin bill in mid-2025 and Hong Kong’s continued experimentation with its e-HKD central bank digital currency (CBDC) since 2017. mid-2025 mid-2025 2017 2017 On the other hand, Beijing’s control over developments in both Hong Kong and mainland China can prove frustrating for companies seeking limitless growth, with one example being the current setbacks experienced by Ant Group and JD.com to establish their own stablecoins in Hong Kong. setbacks setbacks Despite these challenges, super-app AliPay’s parent Ant Group has been exploring a variety of initiatives to lead the region and globe in digital asset adoption. One example of this can be seen through Project Ensemble, which demonstrates tokenization use-cases such as leveraging tokenized bank deposits for cross-border settlements while maintaining compliance with Beijing’s directives. Mid-October 2025 also saw AliPay receiving approval to be an electronic money token issuer in the European Union, enabling wholesale cross-border payments between Ant entities. Project Ensemble Project Ensemble Mid-October 2025 Mid-October 2025 Aside from AliPay, Ant Group has also been leading other programs aimed at digital asset adoption. On November 14, 2025, Ant Group announced its use of JPMorgan’s Kinexsys infrastructure to create a blockchain-based payment system leveraging tokenized versions of the USD and EUR.  Around the same time, Ant International also announced its partnership with UBS to use UBS Digital Cash to enable tokenized deposit solutions for treasury operations. Around the same time Around the same time WeChat has also made similar moves to increase its usage leveraging its massive Chinese userbase, driving digital payments adoption on both a domestic and international scale. The ability to leverage WeChat Mini Programs, which are lightweight services within WeChat, span in the hundreds of millions of monthly active users (MAUs). In fact, WeChat’s popularity extends even to the professional workspace, with WeCom leveraging WeChat’s popularity as a business chat platform akin to a hybrid of Slack and Salesforce. massive Chinese userbase massive Chinese userbase hundreds of millions hundreds of millions When viewed holistically, these moves show how a super-app can push digital asset adoption forward, even within the restrictive regulatory environments established by Beijing. Grab in Singapore Grab in Singapore With China illustrating the limitations of working within an extremely constrained environment despite its utilization of Hong Kong as an experimental testbed, Singapore demonstrates the exact opposite, with its supportive regulatory environment enabling more rapid experimentation for digital asset growth. On November 18, 2025, super-app Grab announced that it signed an MOU with StraitsX to explore the utilization of a stablecoin wallet within the Grab App. StraitsX is deeply involved in the Singapore digital asset ecosystem due to its possession of a major payment institution license, with this enabling it to work on initiatives such as the Singapore Monetary Authority’s Borderless, Liquid, Open, Online, Multi-currency (BLOOM) initiative, which seeks to enable settlement in tokenized bank liabilities and stablecoins. StratsX, the issuer of the XSGD stablecoin, had also previously launched a cross-border settlement solution linking GrabPay and AliPay in late 2024. November 18, 2025 November 18, 2025 seeks seeks late 2024 late 2024 Grab’s entry into stablecoin adoption, in addition to its previous moves in advocating for digital asset growth through cross-border and tokenization pilots, highlight how Grab is increasing growth in one of Asia’s most advanced digital finance markets. By positioning itself as a hub for blockchain-based financial services, Singapore is seeking to ensure its continued role as a key player in Asia’s digital asset race. Line or Rakuten in Japan? Line or Rakuten in Japan? While Japan lacks a singular dominant super-app equivalent to AliPay, WeChat, or Grab, it has been setting the conditions to potentially lead Tokyo to become a global digital asset hub. For one, Japan’s 2023 Payment Services Act sets clear regulations for fiat-backed stablecoins in-country. Additionally, Japan’s megabanks recently announced plans to launch their own joint stablecoin following the launch of the first yen-pegged stablecoin just several weeks prior. This news follows increased optimism surrounding digital asset regulations in light of the inauguration of Japan’s new prime minister Sanae Takaichi. 2023 Payment Services Act 2023 Payment Services Act recently announced recently announced several weeks prior several weeks prior inauguration inauguration However, Japan still needs to solve its last-mile, consumer-facing layer, with this being the most essential for bridging the gap between institutional and individual consumer adoption. LINE and Rakuten Pay stand out as significant contenders in this respect. LINE’s status as Japan’s leading messaging app is crucial in this regard, with LINE already previously having established forays into Web3, including its built-in cryptocurrency exchange LINE BITMAX and its proprietary LINE NFT marketplace. Rakuten’s extensive ecosystem and widespread acceptance throughout Japan, and to a greater extent, within Asia, could also enable RakutenPay to lead the Web3 adoption charge in Japan. built-in cryptocurrency exchange built-in cryptocurrency exchange marketplace marketplace Conclusion Conclusion As stablecoin initiatives accelerate throughout Asia in parallel to geopolitical competition over digital finance, it is clear that Asia’s super-apps will become even more important in shaping the global digital asset landscape. Countries like China, Singapore, and Japan are using digital currencies and stablecoin initiatives to enhance their geopolitical influence, demonstrating and asserting their own digital infrastructure sovereignty despite the dominance of other Western-dominated financial systems. The growing adoption of digital assets across Asia represents not just a technological shift but also a strategic maneuver to secure economic power in the digital age. Super-apps like AliPay, WeChat, Grab, and emerging players in Japan are at the forefront of this shift, driving the normalization of digital assets in everyday life. As these platforms continue to evolve, they will not only reshape the digital finance landscape but also influence the balance of geopolitical power in Asia and beyond. Image Source: Freepik Freepik

Super

Ant Group

Why Malaysia is Poised to Lead Islamic Finance’s Digital Transformation

2021 - HackerNoon Contributor of the Year - CHINA

Nominated for 2022 - HackerNoon Contributor of the Year - Tokenization

Nominated for 2022 - HackerNoon Contributor of the Year - Data Privacy

Nominated for 2022 - HackerNoon Contributor of the Year - Crypto Adoption

Nominated for 2022 - HackerNoon Contributor of the Year - China

Too Long; Didn't Read

How Super-apps are Shaping Asia’s Adoption of Digital Assets and Digital Geopolitics

How Super-apps are Shaping Asia’s Adoption of Digital Assets and Digital Geopolitics

About Author

Comments

TOPICS

THIS ARTICLE WAS FEATURED IN

Related Stories

Brazil and Japan Forge a Web3 Path: A New Era for Economic Cooperation

China Enters Blockchain 3.0 Era

China Releases the Kraken Against US Dollar

Does China have a new relationship with crypto?

Energy Crisis in Kosovo Results in Banning Cryptocurrency Mining

How China’s New National Cryptocurrency Changes Everything

Brazil and Japan Forge a Web3 Path: A New Era for Economic Cooperation

China Enters Blockchain 3.0 Era

China Releases the Kraken Against US Dollar

Does China have a new relationship with crypto?

Energy Crisis in Kosovo Results in Banning Cryptocurrency Mining

How China’s New National Cryptocurrency Changes Everything

Light-Mode

Classic

Newspaper

Minty

Dark-Mode

Neon Noir

Minty

HN StartUps