Ant International and UBS are collaborating to explore blockchain-based cross-border payments and tokenized deposits.

According to Odaily Planet Daily, Ant International has signed a strategic cooperation memorandum with UBS to collaborate in the field of blockchain-based cross-border payment and settlement. Under the agreement, Ant International will utilize UBS Digital Cash, a blockchain payment platform launched by UBS last year, for global fund management to improve the efficiency, transparency, and security of fund flows.

The two parties will also explore innovations related to tokenized deposits, including connectivity solutions around Ant Group's proprietary blockchain platform. Kelvin Li, Global General Manager of Platform Technology at Ant Group International, stated that both sides share a common belief in the transformative potential of new technologies in cross-border payments. (South China Morning Post)