UBS and Ant International have formed a strategic partnership to trial tokenized deposits for fast, borderless cross-border payments. This move aims to revolutionize corporate treasury operations by replacing traditional settlement systems that are plagued by delays, fragmentation, and limited operating hours. The pilot program will leverage UBS Digital Cash, the bank’s blockchain-powered infrastructure for real-time liquidity management across multiple currencies.
This partnership marks a significant step forward in UBS’s digital finance strategy. It leverages Ant International’s expertise in the Alipay+ ecosystem to modernize internal treasury flows and facilitate faster global transactions for businesses. The initiative addresses the long-standing challenge of intra-company transfers, which often encounter time-consuming delays and inconsistent settlement speeds across regions.
By utilizing blockchain technology, the partnership aims to synchronize liquidity almost instantly, reducing transfer cycles from days to just minutes. The pilot program is expected to be launched in 2024 with selected institutions before wider adoption.
The collaboration aligns with Singapore’s growing prominence in digital asset innovation and financial services.