Yesterday Ant International and Bank of China Hong Kong (BOCHK) announced a broad collaboration for real time treasury management and cross border payments. While the deal covers AI and a wide range of Ant’s activities, it also includes distributed ledger and blockchain.
Ant International’s Bettr, its embedded finance business, will collaborate with BOCHK to explore blockchain-based innovations for treasury and investment purposes. The broader deal also covers Alipay+, the cross border digital wallet and merchant services solution, as well as WorldFirst, Ant International’s global account service provider.
As context, Ant International has been the first client for tokenized deposit solutions at numerous banks. Some of the international banks it has partnered with for tokenized deposits include BNP Paribas, CIMB, Deutsche Bank, DBS, HSBC, JP Morgan, OCBC, Standard Chartered and UBS. The company integrates these tokenized deposits with its Ant Whale treasury management solution, which enables Ant International to move money around the world in real time and 24/7. More recently it has started to use tokenized money market funds to earn yield on its pools of cash.
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