UBS has announced a strategic partnership with Ant International to explore blockchain-based innovations for global payments settlement and liquidity management. The collaboration, formalised through a Memorandum of Understanding (MoU) signed at UBS’s Singapore office, will see Ant International utilise UBS Digital Cash, a blockchain-based payment platform, to enhance its global treasury operations.
The partnership aims to leverage blockchain technology to improve efficiency, transparency, and security in cross-border payments. UBS Digital Cash, piloted in 2024, will support Ant International’s operations by enabling real-time, multi-currency fund flows without the constraints of traditional payment cut-off times. This initiative will also incorporate Ant’s proprietary Whale platform, a next-generation treasury management solution.
Young Jin Yee, Co-Head of UBS Global Wealth Management Asia Pacific, highlighted the collaboration’s significance, stating, “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, expressed enthusiasm for the partnership, noting the shared belief in blockchain’s potential to transform cross-border payments.
The alliance between UBS and Ant International underscores their mutual focus on innovation and digitalisation, aiming to set new standards in the financial technology landscape. This collaboration is expected to enhance client value by providing more efficient and transparent financial solutions.
