UBS and Ant International have signed a memorandum of understanding (MoU) for exploring blockchain-based solutions for tokenised deposits, aimed at strengthening the international payment settlements and liquidity management of Ant International.
The MoU was formalised at UBS’s main office on Penang Road in Singapore.
As per the agreement, Ant International will make use of the blockchain-powered payment platform, UBS Digital Cash, which began pilot operations in 2024.
UBS Digital Cash will enhance Ant International’s global treasury operations by leveraging blockchain-based payments to deliver increased efficiency, transparency, and security. At the same time, UBS is using this expertise to strengthen its cross-border payment solutions for clients.
UBS Singapore country head and UBS Global Wealth Management Asia Pacific co-head Young Jin Yee said: “This collaboration with Ant International builds on the momentum of our UBS Digital Cash pilot launch last year.
“By combining our expertise in digital assets with Ant’s advanced blockchain technology, we are working together to deliver a real-time, multi-currency payment solution that sets standards for transparency and efficiency. This partnership underscores our commitment to empowering our clients with best-in-class platforms and providing them with greater access to global financial markets.”
Additionally, the partnership involves exploring further innovations related to tokenised deposits.
The connected solution will feature Ant International’s Whale platform, which serves as an internal treasury management solution.
The joint solution is designed to support instantaneous, multi-currency transfers among Ant’s various entities, removing limitations caused by traditional payment deadlines while aiming to optimise worldwide liquidity management.
Ant International Platform Tech global manager Kelvin Li said: “We are pleased to partner with UBS, a leading global bank with a proven track record in blockchain innovation.
“We share a common belief in the potential of these technologies to transform cross-border payments and look forward to driving greater impact together through UBS’s global expertise and support.”
Recently, Ant introduced iris authentication to Alipay+ GlassPay, its augmented reality glasses-embedded payment solution.
“UBS, Ant International collaborate on blockchain-based payment settlement” was originally created and published by Electronic Payments International, a GlobalData owned brand.
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