Core Insights - Ant International is a significant early adopter of tokenized deposits, collaborating with various banks to implement blockchain payment solutions [1][2] - The company has integrated UBS Digital Cash into its payment toolkit, expanding its range of on-chain payment tools [1][6] - In 2024, over a third of Ant's transactions were processed on-chain through its blockchain-based treasury and settlement platform, Whale [2][6] Partnerships and Collaborations - Ant International has partnered with major banks like HSBC, Standard Chartered, and DBS to enhance its tokenized deposit capabilities [1][3][4] - The company was the first corporate user of HSBC's Tokenized Deposit Service, which went live in May 2024 [3] - A Memorandum of Understanding (MoU) was signed with DBS Bank to further develop tokenized deposit technology, potentially integrating with a new interoperability framework being developed with JPMorgan [4] Interoperability and Industry Initiatives - Interoperability is a key focus for Ant International, which is involved in complex global supply chains and maintains relationships with numerous banks [5] - The company contributed to a report under the Monetary Authority of Singapore's Project Guardian, advocating for a "shared ledger infrastructure" for tokenized liabilities [5] - The report endorsed blockchain networks as a means to streamline global payments, without proposing a single platform [7] UBS's Role in Tokenization - UBS has emerged as a leader in tokenization in Europe, processing various transactions during a 2024 pilot, including domestic Swiss payments and cross-border payments in multiple currencies [8]

HSBC expanded its tokenized deposit service (TDS) to include cross-border transactions.By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.The real-time solution for corporate clients conducted its first U.S. dollar cr ...