Investment bank UBS has formed a strategic partnership with fintech company Ant International to explore tokenized deposits for real-time cross-border payments and global liquidity management, marking a significant expansion of the Swiss bank's blockchain-based digital cash platform.

The two companies signed a memorandum of understanding in the Singapore region, anchoring the agreement in one of the most active centers for institutional blockchain experimentation. This move positions tokenized bank funds as a potential alternative to traditional treasury settlement systems, which are still constrained by cut-off times, fragmentation, and multi-currency delays.

Ant International is responsible for overseeing operations within the broader Alipay+ ecosystem, and the company announced it will leverage UBS digital cash to streamline internal treasury transfers across jurisdictions.

"We share a common belief in the potential of these technologies to transform cross-border payments and look forward to driving greater impact together with UBS's global expertise and support," said Kelvin Li, Global Head of Platform Technology at Ant International.

This collaboration directly addresses one of the biggest bottlenecks in corporate treasury operations—the reliance on traditional banking systems for intra-group transfers. These transfers are limited by restricted operating hours and inconsistent settlement speeds.

By tokenizing deposit liabilities on a permissioned digital ledger, institutions will be able to synchronize liquidity across different subsidiaries in minutes rather than days, a shift that global payment providers have been striving to achieve.

UBS digital cash is set to pilot with selected institutions in 2024, positioned as a bank-issued digital currency for wholesale use cases.

"By combining our expertise in digital assets with Ant's advanced blockchain technology, we are working together to provide real-time, multi-currency payment solutions that set standards for transparency and efficiency," said Young Jin Yee, Country Head of UBS Singapore.

This new partnership is one of the most concrete examples of major payment infrastructure operators adopting tokenized deposits.

For Ant International, this integration will provide a programmable settlement layer that can support treasury operations across Asia, Europe, and the Middle East.

The partnership reinforces Singapore's growing role in institutional blockchain initiatives.

In 2024, the Monetary Authority of Singapore (MAS) will advance asset tokenization through a new framework, launching several projects, such as the Guardian project focused on fund tokenization and the Orchid project developing use cases for retail central bank digital currencies.

Related: Robert Kiyosaki claims cash shortages lead to market crashes, continues to be bullish on Bitcoin (BTC) and gold.

Original article: “UBS and Ant International Bet on Blockchain to Break Global Treasury Liquidity Bottlenecks”

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