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Ant International Partners with UBS for Blockchain-Based Treasury Operations
Ant International, the global arm of Ant Group, has partnered with UBS to enhance its treasury and payments systems using blockchain technology.
- The collaboration aims to implement blockchain-powered settlement, tokenized deposits, and real-time fund movement.
- A memorandum of understanding (MoU) allows Ant International to integrate UBS Digital Cash, a blockchain-based payment platform, into its operations.
- This integration seeks to streamline cross-border liquidity, improve security, and mitigate issues caused by international banking cut-off times.
Blockchain and Tokenized Deposits
- Ant will merge UBS Digital Cash with its in-house Whale platform for efficient multi-currency fund movement globally.
- The partnership includes R&D on tokenized deposits, which could enhance transparency, settlement speed, and auditability.
- Hong Kong’s Project Ensemble, a sandbox for tokenized transactions, has facilitated real-value settlements involving major banks, including HSBC's HK$3.8 million transfer for Ant.
Ant's Digital-Asset Strategy
- Ant is exploring regulated digital asset infrastructure and considering stablecoin licensing in various jurisdictions.
- The focus remains on stablecoins improving modern payment infrastructure rather than speculative crypto activities.
- Ant highlights the efficiency of blockchain settlement and tokenized money for international commerce.