UBS has formed a strategic partnership with Ant International, a major global digital payments and fintech company. Together, they will explore new ways to use blockchain-based tokenised deposits to improve Ant International’s global payment settlements and liquidity management.
The two companies signed a Memorandum of Understanding (MoU) at UBS’s main office on Penang Road in Singapore.
Under the MoU, Ant International will use UBS Digital Cash, a blockchain-based payment system that UBS tested in 2024. This platform will help Ant International handle its global treasury operations more efficiently.
With blockchain-based payments, Ant International will gain better efficiency, transparency, and security. At the same time, UBS will use the collaboration to improve its own cross-border payment solutions for clients.
The two companies will also work together on new ideas for tokenised deposits. Their connected system will use Ant’s own blockchain-based Whale platform, which is a next-generation tool for managing treasury operations.
This combined solution will allow real-time, multi-currency fund transfers between Ant International’s different entities. It will work transparently and won’t be limited by traditional bank cut-off times, helping Ant manage its global liquidity more efficiently.
Young Jin Yee, Co-Head UBS Global Wealth Management Asia Pacific and Country Head UBS Singapore, 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.”
Kelvin Li, Global Manager of Platform Tech at Ant International, added: “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.”
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