Ant and UBS Integrate Digital Systems for Real-Time Transfers
- Ant and UBS build a tokenized deposit path that offers movement across global markets.
- Real-time settlement expands as firms integrate their digital rails for quick cross-border transactions.
- Institutions now study tokenized deposits as a core tool for cross-border flows.
Ant International advanced its global treasury operations after signing a new partnership with Swiss bank UBS, as both firms move to develop tokenized deposit solutions and blockchain-based settlement systems. The agreement, signed at UBS’ Singapore offices, enables Ant International to use UBS Digital Cash for multi-currency transactions while both firms pursue new innovations in tokenized deposits for cross-border financial flows.
UBS Digital Cash Becomes a Core Treasury Rail
Ant International will integrate UBS Digital Cash, a blockchain payment platform first piloted in 2024, into its global treasury workflows. The platform supports near-instant settlement and improves transparency across internal payment channels. The companies stated that the system will support multi-currency movement and provide faster access to liquidity for Ant International entities.
UBS intends to contribute its digital-asset technology to strengthen cross-border transaction flows for institutional users. The bank seeks to deliver improved settlement options that remove legacy payment delays and increase visibility across complex treasury structures. UBS said this approach aligns with its broader goal of expanding real-time services for clients in multiple markets.
Young Jin Yee, Co-Head of UBS Global Wealth Management Asia Pacific and Country Head of UBS Singapore, said the partnership “builds on the momentum” of the UBS Digital Cash pilot and aims to deliver a multi-currency payment solution that raises transparency and efficiency.
Tokenized Deposits Gain Momentum in Global Markets
The partnership also expands both firms’ exploration of tokenized deposits. Ant International plans to connect UBS Digital Cash with its Whale platform, which allows real-time fund movement across Ant-linked entities. This integration intends to support continuous liquidity access without traditional banking cut-off times.
Kelvin Li, Global Manager of Platform Tech at Ant International, said they share a belief in the potential of blockchain systems to reshape cross-border payments, and noted UBS’s “proven track record” in digital-asset development.
Activity around tokenized deposits continues to grow. In Switzerland, a consortium that included UBS completed a binding payment with deposit tokens on a public blockchain. The move presented deposit tokens as an alternative to stablecoins for institutional settlement. Ant International has also partnered with HSBC in Hong Kong for its Tokenised Deposit Service, which uses distributed ledger technology for real-time treasury settlement.
Further adoption also appears in Europe. Ant Group worked with Luxembourg-based Banking Circle in 2023 on tokenized deposit structures and liquidity management solutions. These developments show increasing interest in regulated, bank-issued token formats over corporate stablecoins.
Related: JPMorgan Launches JPM Coin on Blockchain for Instant Payments
A Fragmented Yet Interoperable Global Settlement Future
The Ant–UBS collaboration reflects a shift toward a new global settlement architecture built on separate but connected platforms. UBS Digital Cash, Ant’s Whale system, and other regional tokenized deposit networks are forming an ecosystem where financial institutions move funds using regulated tokenized deposits instead of traditional rails.
The structure supports faster settlement cycles, enhanced liquidity visibility, and reduced intraday funding needs across jurisdictions. These benefits are significant as institutions prioritize real-time financial operations.
This model also invites a broader policy question: Can private tokenized-deposit systems scale globally while central banks develop their own digital settlement frameworks?
While many central banks explore wholesale CBDCs, private-sector platforms are moving quickly to define new settlement standards using regulated deposit tokens. The Ant–UBS agreement demonstrates a clear industry shift, as institutions increasingly adopt tokenized deposits as their preferred backbone for cross-border financial activity.
