Key Takeaways
- •UBS and Ant International signed an MoU in Singapore to test tokenized deposits for instant cross-border treasury transfers.
- •The move aims to replace legacy settlement systems, which are defined by delays, fragmentation, and limited operating hours.
- •UBS Digital Cash will serve as the tokenized monetary infrastructure for multicurrency, real-time corporate liquidity management.
Swiss banking giant UBS has entered into a strategic partnership with Ant International to test the use of tokenized deposits for instant cross-border payments and streamlined treasury operations, marking a significant leap in the bank’s digital finance ambitions.
Partnership Formalized in Singapore
Both firms formalized the partnership through a Memorandum of Understanding (MoU) in Singapore, a city-state recognized as a global hub for blockchain innovation. The agreement highlights the growing belief that tokenized deposits could unlock faster, borderless settlement, eliminating common pain points such as currency delays, fragmented rails, and time-restricted operating windows.
Ant International, a key operator within the Alipay+ ecosystem, confirmed it will integrate UBS Digital Cash to modernize internal treasury flows across its global subsidiaries. Kelvin Li, global manager of platform tech at Ant International, noted that the partnership is driven by a shared conviction. He stated that the two companies believe digital asset infrastructure can fundamentally redefine how value moves globally and are focused on delivering solutions with real-world impact.
Addressing Corporate Liquidity Roadblocks
The partnership addresses a critical challenge in enterprise treasury: intra-company transfers that are currently restricted by traditional banking schedules and inconsistent settlement speeds across regions. By digitizing and tokenizing deposit liabilities on controlled blockchain networks, firms could synchronize liquidity in near-real time, reducing transfer cycles from multiple days to just minutes.
UBS Digital Cash, initially piloted with select institutions in 2024, is designed as a bank-issued digital instrument strictly for wholesale market use cases, including cross-border liquidity, settlement, and on-chain financial applications.
Young Jin Yee, UBS Singapore’s country head, emphasized that the collaboration blends UBS’ digital asset experience with Ant’s blockchain capabilities to deliver a multipurpose, multi-currency treasury solution that enhances speed, transparency, and operational efficiency.
Strengthening Asia's Role in Tokenization Leadership
The initiative also reinforces Singapore’s growing influence in the digital asset innovation sector. In 2024, the Monetary Authority of Singapore (MAS) advanced tokenization frameworks through several sandbox projects, including Project Guardian (fund tokenization) and Project Orchid (retail CBDC use cases).
For Ant International, the collaboration offers the foundation for programmable automated settlement potentially spanning Asia, Europe, and the Middle East, signaling one of the clearest real-world moves toward tokenized commercial banking money.