Ant International today unveiled its next-generation treasury management solutions powered by Web3 technologies during Singapore Fintech Festival. The solutions utilize Web3 technology innovations inc...
SINGAPORE: Ant International today unveiled its next-generation treasury management solutions powered by Web3 technologies during Singapore Fintech Festival.
The solutions utilize Web3 technology innovations including advanced encryption and tokenization, zero-knowledge proof, artificial intelligence and decentralized finance to improve the efficiency and transparency of global fund clearing and settlement, and enable 24/7 real-time, on-demand and multi-currency treasury fund movement between bank accounts.
At the Tech Stage of Singapore Fintech Festival, Kelvin Li, Head of Global Fund Platform at Ant International, presented the solutions and their use cases.
According to Li, the solutions so far have been deployed in multiple business scenarios of Ant International, including cross-border acquiring and instant tax refund services. With the help of the solutions, SMEs in cross-border trades can enjoy always-on payment collection with their account period being significantly reduced, and outbound travelers can see their tax refunding being instantly settled and received their refunds almost immediately.
"Web3 technologies are enabling a new wave of digital transformation and digital collaboration, bringing innovations on the value movement," said Li. "The development and application of the solutions is another demonstration of Ant International’s long-term commitment to resolving industries' pain points through technological innovations. We will continue to leverage Web3 and other fintech innovations to improve the efficiency and trustworthiness on treasury management, while exploring more innovative and inclusive services."
Ant International, in collaboration with its industry partners, also trials enhanced global treasury management solutions as part of broader industry efforts, including Project Guardian led by the Monetary Authority of Singapore, exploring the transformative potential of tokenization while ensuring regulatory safeguards and collaboration with industry stakeholders.
The development of these solutions is also supported by Ant International's banking partners. On November 1, HSBC announced that it had built tokenized deposit-based treasury management capabilities based on the solutions. Banking Circle, a Luxembourg based bank, also announced this week that it was working on a pioneering liquidity management project leveraging the solutions.
About Ant International
Headquartered in Singapore, Ant International powers the future of global commerce with digital innovation for everyone and every business to thrive. In close collaboration with partners, we support merchants of all sizes worldwide to realize their growth aspirations through a comprehensive range of tech-driven digital payment and financial services solutions.
Contacts Media Inquiries
Vick Li Wei
Vick.lw@antgroup.com
Ant Group
Fonte: Business Wire
Alaa Abdul Nabi, Vice President, Sales International at RSA presents the innovations the vendor brings to Cybertech as part of a passwordless vision for…
G11 Media's SecurityOpenLab magazine rewards excellence in cybersecurity: the best vendors based on user votes
Always keeping an European perspective, Austria has developed a thriving AI ecosystem that now can attract talents and companies from other countries
Successfully completing a Proof of Concept implementation in Athens, the two Italian companies prove that QKD can be easily implemented also in pre-existing…
Red Hat, the world's leading provider of open source solutions, today continues to deliver customer choice in enterprise AI with the introduction of Red…
The "U.S. Data Center Construction Market - Industry Outlook & Forecast 2025-2030" report has been added to ResearchAndMarkets.com's offering. The…
J.D. Power today announced that Joshua Peirez will assume the role of President and CEO of J.D. Power, guiding the company in its next phase of growth…
#ATS--IMVARIA Inc., a health tech company pioneering AI-driven digital biomarker solutions, today reported results from multi-site clinical experiences…