TechFlow news, November 17 — According to the South China Morning Post, Ant International and UBS have signed a strategic cooperation memorandum to collaborate in the field of blockchain-based cross-border payment and settlement.
Under the agreement, Ant International will use UBS Digital Cash, UBS's blockchain payment platform launched last year, for global cash management operations to enhance efficiency, transparency, and security. The two parties will also explore joint innovation in tokenized deposits, including a "connectivity solution" involving Ant's proprietary blockchain platform.
Kelvin Li, Global Head of Platform Technology at Ant International, said both parties share a strong belief in the potential of these technologies to transform cross-border payments.
