UBS has announced a strategic partnership with Ant International to explore blockchain-based innovations in cross-border payments settlement and liquidity management. The collaboration was formalised with the signing of a Memorandum of Understanding (MoU) at UBS’s Singapore office at 9 Penang Road. The partnership aims to leverage blockchain technology to enhance efficiency, transparency, and security in global payments.
Under the MoU, Ant International will utilise UBS Digital Cash, a blockchain-based payment platform piloted in 2024, to support its global treasury operations. The platform enables real-time, multi-currency payments and is designed to improve transparency and reduce the limitations of traditional banking cut-off times. UBS will also apply its expertise to expand cross-border payment solutions for its clients.
The companies will further explore joint innovations in tokenised deposits, connecting Ant International’s proprietary Whale platform, an internal next-generation treasury management solution with UBS Digital Cash. This integration will allow Ant International to manage fund flows across multiple currencies and entities in real time, offering enhanced liquidity management and streamlined operations for global transactions.
Young Jin Yee, Co-Head of UBS Global Wealth Management Asia Pacific and Country Head of 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, General 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.”
The partnership highlights the shared commitment of UBS and Ant International to innovation and digitalisation, aiming to set new benchmarks in real-time cross-border payment processing and liquidity management for clients worldwide.
