Ant International and UBS signed a strategic cooperation memorandum, and both parties will collaborate in the field of blockchain cross-border payment settlement

According to the South China Morning Post, Ant International has signed a strategic cooperation memorandum with UBS, and the two parties will collaborate in the field of blockchain cross-border payment settlement.

Under the agreement, Ant International will use UBS's blockchain payment platform, UBS Digital Cash, launched last year, for global fund management operations to enhance efficiency, transparency, and security. The two parties will also explore joint innovations in tokenized deposits, including a "connectivity solution" involving Ant's proprietary blockchain platform, Whale.

Kelvin Li, Global General Manager of Platform Technology at Ant International, stated that both parties share a common belief in the potential of these technologies to transform cross-border payments.