Banking Circle and Ant Group collaborate on Liquidity Management Project

By Gloria Methri

Banking Circle has teamed up with Ant Group to work on a liquidity management project, exploring technology innovations on tokenised deposits that will improve efficiency and speed of global fund settlements.

Banking Circle infrastructure and the blockchain platform developed by Ant Group will be leveraged to issue and distribute the tokenised deposits. The blockchain platform can facilitate cross-border payments and liquidity management more efficiently.

Alongside the clear liquidity management benefits, the structure is Web3 compatible and provides further opportunities for cost-saving with FX and additional currencies to follow shortly.

Laust Bertelsen, CEO of Banking Circle, said, “We are 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.”

The Luxembourg-based bank provides a suite of 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 help customers reduce transaction costs, improve efficiency and transparency and optimise cash management through its technologies and Treasury Solutions for its FinTech customers.

Ant Group aims to create the infrastructure and platform to support the digital transformation of the service industry. It strives to enable all consumers and small businesses to have equal access to financial and other services that are inclusive, green, and sustainable.