UBS partners with Ant Group to promote real-time cross-border payment settlement and liquidity management based on blockchain technology.

On November 18, UBS Group and Ant International reached a strategic cooperation agreement to jointly explore innovative tokenized currency based on blockchain to support Ant International's global payment settlement and liquidity management. According to the memorandum of understanding signed at UBS's flagship office in Singapore, Ant International will use the UBS digital cash blockchain payment platform, which will be piloted in 2024, to provide blockchain payment support for its global asset management, helping to improve settlement efficiency, transparency, and security. UBS will also use this advanced technology to optimize cross-border payment solutions for its clients. It is reported that the two parties will also jointly explore innovation in the field of tokenized currency, and the joint solution will integrate Ant's independently developed blockchain real-time cross-border fund management platform, Whale, aiming to achieve real-time multi-currency fund circulation among Ant International's entities, breaking through the restrictions of traditional payment deadlines, and improving the transparency and flexibility of global liquidity management.