UBS and Ant International have signed a memorandum of understanding (MoU) to explore blockchain-based solutions for tokenized deposits, aimed at strengthening Ant International’s international payment settlements and liquidity management.
The MoU was formalized at the UBS headquarters on Penang Road in Singapore.
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As per the agreement, Ant International will use the blockchain-based 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 greater efficiency, transparency and security. At the same time, UBS uses this expertise to strengthen its cross-border payment solutions for its clients.
Young Jin Yee, UBS Country Head in Singapore and Co-Head of UBS Global Wealth Management for the Asia Pacific region, said: “This collaboration with Ant International builds on the momentum from the launch of our UBS Digital Cash pilot 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 payments solution that sets standards for transparency and efficiency. This partnership underscores our commitment to offering our customers best-in-class platforms and providing them with greater access to global financial markets.”
Additionally, the partnership involves exploring other innovations related to tokenized deposits.
The connected solution will include Ant International’s Whale platform, which serves as an internal treasury management solution.
The joint solution is designed to support instant multi-currency transfers between different Ant entities, removing limitations caused by traditional payment terms while aiming to optimize liquidity management globally.
Kelvin Li, Global Head of Ant International Platform Tech, said: “We are pleased to partner with UBS, a leading global bank with a proven track record of 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 in Alipay+ GlassPay, its payment solution integrated into augmented reality glasses.
