Rich by Coin

UBS Singapore has signed an agreement with Ant International for the use of UBS Digital Cash, the bank’s tokenized deposit solution.
Ant International, spun off from Ant Group, offers Alipay+, a merchant solution that connects digital wallets globally.
Ant has several collaborations with banks to enable tokenized deposits and instant, round-the-clock money movement between group companies.
It integrates tokenized deposits with Ant Whale, its blockchain-based treasury solution.
“By combining our expertise in digital assets with Ant’s advanced blockchain technology, we are working together to deliver a real-time, multi-currency payment solution that enhances transparency and efficiency,” said Young Jin Yee, Co-Head UBS Global Wealth Management Asia Pacific and Country Head UBS Singapore.
This also relates to UBS’s issuance of the uMINT money market fund and tokenized gold.
UBS and Ant International will explore other innovations involving tokenized deposits.
For the 12 months to mid-2025, Ant International’s treasury processed more than $1 trillion in payments, with its blockchain platform handling about a third of them.
Depending on the use case, the platform is estimated to save 30% to 60% in liquidity and FX costs.
To date, it has worked with ten international banks that support tokenized deposits.
Ant International is also exploring the use of internal stablecoins through its Luxembourg subsidiary.