Ant International to use UBS’ blockchain platform for global treasury operations

The two companies will also explore joint innovations in tokenised deposits.

UBS and Ant International have signed a memorandum of understanding (MOU) enabling Ant to leverage the UBS Digital Cash, the Swiss bank’s blockchain-based payment platform.

UBS Digital Cash is expected to support Ant International’s global treasury operations with blockchain-based payments, according to the press release.

The two companies will also explore joint innovations in tokenised deposits. This solution will include Ant’s proprietary blockchain-based Whale platform, a treasury management solution.

“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,” said Young Jin Yee, co-head of UBS Global Wealth Management Asia Pacific and country head, UBS Singapore.