News

Banking Circle partners with Ant Group

Wednesday 15 November 2023 09:44 CET | News

Luxembourg-based financial services company Banking Circle has partnered with Ant Group to work on a new liquidity management project.

 

Specifically, Banking Circle has announced a collaboration with Ant Group to develop a liquidity management project focused on technology innovations related to tokenised deposits. The initiative aims to enhance the efficiency and speed of global fund settlements. 

The partnership utilises Banking Circle's infrastructure and Ant Group's blockchain platform to issue and distribute tokenised deposits. The blockchain platform is designed to facilitate cross-border payments and improve liquidity management. 

According to Banking Circle, in addition to the liquidity management advantages, the structure is Web3 compatible, offering potential cost-saving opportunities with the inclusion of foreign exchange (FX) and additional currencies in the near future. 

In the company press release, officials from Banking Circle expressed enthusiasm about the collaboration, emphasising the companies' commitment to pioneering innovations in global treasury management. The collaboration is expected to continue, strengthening the relationship between the two entities on a global scale. 

Representatives from Ant Group highlighted the partnership's focus on technology innovations for tokenisation. They also outlined the joint effort's objective to enhance liquidity efficiency and corporate treasury management while supporting the development of scalable and sustainable FinTech solutions.

 

Luxembourg-based financial services company Banking Circle has partnered with Ant Group to work on a new liquidity management project.

 

More information about Banking Circle

Banking Circle, based in Luxembourg, offers various banking solutions, including bank connections for local clearing and cross-border payments, multi-currency accounts, virtual IBANs, and Correspondent and Agency Banking solutions. The company aims to assist customers in reducing transaction costs, improving efficiency and transparency, and optimising cash management through its advanced technologies and Treasury Solutions designed specifically for fintech customers. 

In September 2023, Banking Circle became a member of the Spanish Association of FinTech and InsurTech (AEFI) with the aim of solidifying its presence in the region. 

Following this announcement, Banking Circle gained the ability to collaborate with fintech industry institutions and companies to further improve the process of development and transformation of the Spanish financial ecosystem. The Banking Circle team plans to contribute with insight into some of the barriers and challenges that are currently present in the industry, to provide customers with fast and cost-effective cross-border payments and to improve the overall financial inclusion of the area.  

In August 2023, the Banking Circle Group announced its expansion into Australia with the launch of its licensed subsidiary BC Payments and revealed its goals to improve the manner in which fintech companies scale internationally.


Source: Link


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: digital assets, partnership, web3, blockchain, tokenization
Categories: DeFi & Crypto & Web3
Companies: Ant Group, Banking Circle
Countries: Luxembourg
This article is part of category

DeFi & Crypto & Web3

Ant Group

|

Banking Circle

|
Discover all the Company news on Ant Group and other articles related to Ant Group in The Paypers News, Reports, and insights on the payments and fintech industry:





Industry Events