UBS and Ant International dey test Blockchain-Based Tokenized Deposits for Quick Cross-Border Payment
UBS and Ant International don sign MOU for Singapore to try blockchain-base tokenized deposits wey go make cross-border payments quick quick. The partnership dey use UBS Digital Cash wey dem launch for 2024 for institutional real-time liquidity management. Ant International go put the solution inside their Alipay+ ecosystem. By tokenizing deposit liabilities, corporate treasury teams fit settle transfer for just minutes, e no go follow traditional cut-off times and time zones. Kelvin Li wey be Global Manager for Platform Technology inside Ant International talk say blockchain get better chance to change how cross-border payments dey work. Young Jin Yee, the Head for UBS Singapore, talk say the system go allow faster, multi-currency transfers for private ledger. This project follow others wey Franklin Templeton join with the Canton Network. As tokenized deposits dey popular, liquidity management go dey more efficient, transparent and flexible.
Neutral
Di pilot wey UBS and Ant International dey run for tokenized deposits na big step for infrastructure wey go support blockchain payments. E show say more institutions dey adopt digital cash and tokenized assets, but e no directly affect market price for any specific cryptocurrency. Short term, e fit boost confidence for blockchain payment solutions, but e no too change trading volumes or token values. Long term, better liquidity management and cross-border payment efficiency fit make people demand more for programmable settlement tokens. But until these systems connect well with public networks or tokenized assets, e effect for crypto markets go dey neutral.