Ant International reveals treasury management solutions

According to the information detailed in the press release, the solutions leverage Web3 technological capabilities, including encryption and tokenisation, zero-knowledge proof, artificial intelligence, and decentralised finance, to enhance the efficiency and transparency of global fund clearing and settlements. Moreover, the solutions aim to enable real-time, on-demand, and multi-currency treasury fund management between bank accounts.

Thus far, the solutions have been introduced in multiple business scenarios of Ant International, including cross-border acquiring and instant tax refund services. With the launch of these new services, Ant International intends to allow SMEs in cross-border trades to benefit from always-on payment collection with their account period being reduced. Moreover, outbound travellers have the option to visualise their tax refund being promptly settled and receive their funds almost instantly.

Representatives from the company stated that Web3 technologies enable digital improvement and collaboration, introducing innovations into the value movement. The development of these new solutions underlines Ant International’s commitment to eliminating industries’ difficulties through technological advancements. The company intends to continue to use Web3 and other fintech solutions to enhance the efficiency and safety of treasury management, while also surveying more inclusive services. By collaborating with industry partners, Ant International also tests improved global treasury management solutions as part of broader industry efforts, including Project Guardian led by the Monetary Authority of Singapore (MAS). Through this, the company explores the potential of tokenisation while also maintaining regulatory precautions and partnering with industry participants.

Ant International is being supported by its banking partners in the development process of these solutions. Recently, Banking Circle announced its collaboration with Ant Group to accelerate a new liquidity management project. Through this partnership, Banking Circle combined its infrastructure with Ant Group’s blockchain platform to issue and distribute tokenised deposits. The blockchain platform is intended to facilitate cross-border payments and enhance liquidity management. By being Web3 compatible, the structure can potentially provide cost-saving opportunities with the integration of foreign exchange (FX) and additional currencies in the future.

At the beginning of November 2023, HSBC tested the use of tokenised deposits in cooperation with Ant Group, intending to accelerate the creation of corporate treasury management. The intra-group payment transactions leveraged the tokenised deposits successfully and the initiative was set to focus on the potential capabilities of deposit tokenisation in the process of allowing always-on, real-time treasury fund movement between accounts.

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