UBS has partnered with Ant International to explore innovations in blockchain-based tokenized deposits as well as real-time cross-border payments settlement and liquidity management.

Under a memorandum of understanding signed by the two parties, Ant International will leverage UBS Digital Cash, a blockchain-based payment platform, to support its global treasury operations with blockchain-based payments that enable greater efficiency, transparency, and security, while UBS applies this expertise to enhance cross-border payment solutions for its clients.

The two companies will also explore joint innovations in tokenized deposits. The connected solution will include Ant´s proprietary blockchain-based Whale platform, an internal next-generation treasury management solution.

The connected solution will enable real-time, multi-currency fund flows between Ant International’s entities in a transparent manner, unconstrained by traditional payment cut-off times for better global liquidity management.

“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,” says Young Jin Yee, co-head UBS global wealth management, Asia-Pacific, and country head for Singapore. “This partnership underscores our commitment to empowering our clients with best-in-class platforms and providing them with greater access to global financial markets.”

Kelvin Li, global manager of platform tech at Ant International, adds: “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.”