UBS and Ant International Collaborate on Blockchain-Based Payment Solution
UBS has entered into a strategic partnership with Ant International to jointly explore tokenized deposits on a blockchain platform for payment settlement and liquidity management. The collaboration was formalized through a Memorandum of Understanding (MoU) signed at UBS's Singapore office on Penang Road.
Under the agreement, Ant International will leverage UBS Digital Cash—a blockchain-based payment platform piloted in 2024—to support its global fund operations. UBS Digital Cash enables secure, transparent, and efficient blockchain-based payments, while UBS applies its expertise to enhance cross-border payment solutions for clients.
The partnership also includes exploring joint innovation in tokenized deposits. The integrated solution will connect Ant Group’s blockchain-based Whale platform (an internal funds management system) to facilitate real-time, multi-currency fund flows across Ant International entities, removing the constraints of traditional payment cut-off times.
Young Jin Yee, Co-Head of Wealth Management for Asia Pacific and Head of UBS Singapore, commented:
"By combining our expertise in digital assets with Ant Group's advanced blockchain technology, we are building a real-time, multi-currency payment solution that sets new standards in transparency and efficiency."
Kelvin Li, Global Platform Technology Manager at Ant International, added:
"We believe these technologies have the potential to transform cross-border payments and look forward to leveraging UBS’s global expertise to create greater impact together."
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