Overview
- Ant International and UBS signed the memorandum of understanding on November 17 in Singapore for Ant to add UBS Digital Cash to its global treasury operations.
- The agreement initiates joint research into tokenized deposits, including a connected solution that links UBS’s deposit tokens with Ant’s Whale treasury system.
- UBS Digital Cash, piloted in 2024, is a blockchain-based platform designed to speed settlement, enhance transparency and security, and reduce cut-off-time frictions.
- The work is at an exploratory integration stage rather than a commercial launch, with interoperability and multi-currency, real-time movement of funds identified as goals.
- Ant has previously integrated deposit-token services from banks such as HSBC and says over one-third of its 2024 transactions were processed on-chain, including a HK$3.8 million cross-bank transfer from HSBC to Standard Chartered.