UBS, Ant International collaborate on blockchain-based payment settlement

UBS and Ant International person signed a memorandum of knowing (MoU) for exploring blockchain-based solutions for tokenised deposits, aimed astatine strengthening the planetary outgo settlements and liquidity absorption of Ant International.

The MoU was formalised astatine UBS’s main bureau connected Penang Road successful Singapore.

As per the agreement, Ant International volition marque usage of the blockchain-powered outgo platform, UBS Digital Cash, which began aviator operations successful 2024.

UBS Digital Cash volition heighten Ant International’s planetary treasury operations by leveraging blockchain-based payments to present accrued efficiency, transparency, and security. At the aforesaid time, UBS is utilizing this expertise to fortify its cross-border outgo solutions for clients.

UBS Singapore state caput and UBS Global Wealth Management Asia Pacific co-head Young Jin Yee said: “This collaboration with Ant International builds connected the momentum of our UBS Digital Cash aviator motorboat past year.

“By combining our expertise successful integer assets with Ant’s precocious blockchain technology, we are moving unneurotic to present a real-time, multi-currency outgo solution that sets standards for transparency and efficiency. This concern underscores our committedness to empowering our clients with best-in-class platforms and providing them with greater entree to planetary fiscal markets.”

Additionally, the concern involves exploring further innovations related to tokenised deposits.

The connected solution volition diagnostic Ant International’s Whale platform, which serves arsenic an interior treasury absorption solution.

The associated solution is designed to enactment instantaneous, multi-currency transfers among Ant’s assorted entities, removing limitations caused by accepted outgo deadlines portion aiming to optimise worldwide liquidity management.

Ant International Platform Tech planetary manager Kelvin Li said: “We are pleased to spouse with UBS, a starring planetary slope with a proven way grounds successful blockchain innovation.

“We stock a communal content successful the imaginable of these technologies to alteration cross-border payments and look guardant to driving greater interaction unneurotic done UBS’s planetary expertise and support.”

Recently, Ant introduced iris authentication to Alipay+ GlassPay, its augmented world glasses-embedded outgo solution.

"UBS, Ant International collaborate connected blockchain-based outgo settlement" was primitively created and published by Electronic Payments International, a GlobalData owned brand.

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