November 17th. According to the report of South China Morning Post, Ant Group International based in Singapore (a spin-off of Ant Group) is speeding up its global asset management business through a strategic partnership with the Swiss banking giant UBS Group AG. The aim is to explore blockchain-based tokenized deposit innovations. On Monday, the two companies announced that under a memorandum of understanding signed at UBS’s Singapore office, Ant Group International will use UBS Digital Cash, a blockchain-based payment platform launched last year, for its global asset management operations to enhance efficiency, transparency, and security. The collaboration will also explore joint innovations in tokenized deposits, including an “interconnected solution” that will involve Ant’s in-house blockchain-based Whale platform, which is its internal treasury management system.
