Ant International Teams Up with Bank of China Hong Kong for Blockchain-Enabled Cross-Border Payments

Ant International has formed a strategic partnership with Bank of China Hong Kong (BOCHK) to enhance cross-border payments and treasury management. The collaboration will leverage distributed ledger technology, including blockchain.

As part of the agreement, Ant's embedded finance business, Bettr, will work with BOCHK to explore innovative solutions for treasury and investment purposes using blockchain. This partnership also encompasses Alipay+, a digital wallet and merchant services solution for cross-border transactions, as well as WorldFirst, Ant International's global account service provider.

Ant International has been at the forefront of tokenized deposit solutions, partnering with numerous international banks, including BNP Paribas, CIMB, Deutsche Bank, DBS, HSBC, JP Morgan, OCBC, Standard Chartered, and UBS. These partnerships integrate tokenized deposits with Ant's treasury management solution, enabling real-time and 24/7 global transactions.

The company has also begun using tokenized money market funds to generate yield on its cash pools.