Banking Circle and Ant Group Embark on a Liquidity Management Projectby Fintech News Hong Kong November 16, 2023
Luxembourg-based financial services company Banking Circle has tied up with fintech giant Ant Group to embark on a liquidity management project.
The partnership aims to explore innovations related to tokenised deposits, with a focus on enhancing the efficiency and speed of global fund settlements.
To achieve this, Banking Circle will harness its robust infrastructure in conjunction with Ant Group’s blockchain platform. This blockchain platform will play a pivotal role in facilitating cross-border payments and liquidity management more efficiently.
Beyond the advantages in liquidity management, the structure is Web 3.0 compatible and provides further opportunities for cost-saving with FX and additional currencies in the near future.
Laust Bertelsen, CEO of Banking Circle said,
“Banking Circle is excited to work with Ant Group to pioneer innovations for global treasury management. Looking ahead, the two companies will continue to collaborate and strengthen our relationship globally.”
Kelvin Li, Head of Global Fund Platform of International Business Group at Ant Group added,
“We are glad to partner with Banking Circle on technology innovations for tokenisation, which is aimed at improving the efficiency of liquidity and corporate treasury management, and facilitate the development of scalable and sustainable fintech solutions.”