International Ant Corporation Delves into Stablecoin Release. Secures Tokenized Deposit Agreement with Deutsche Bank
In a significant move for the global payments industry, Ant International, a leading global payments firm, has partnered with Deutsche Bank to explore cross-border payment innovations. This partnership involves tokenized bank deposits and Ant International's Falcon TST FX Model [1].
Ant International's Whale DLT platform is central to this partnership. This platform, which moves money around the world in real time, covers ten currencies and around a third of the group's global treasury money movements [2]. Deutsche Bank has become the first German bank to integrate with Ant International's Whale DLT platform for group treasury [3].
Last month, Ant International made headlines as the first client for HSBC's tokenized deposit solution in Hong Kong [4]. The partnership with Deutsche Bank further strengthens Ant International's blockchain payment infrastructure.
Ant International is actively considering applying for stablecoin licenses in multiple global jurisdictions, including Singapore, Hong Kong, and Luxembourg [5]. Stablecoins, digital currencies pegged to traditional assets like the US dollar, have become popular for cross-border payments due to their speed and lower costs compared to traditional banking, particularly in emerging markets [6].
While Ant International has not yet confirmed its stablecoin ambitions, its expanding blockchain partnerships suggest the company is building infrastructure for a potential digital asset strategy [7]. Reports suggest that Ant International plans to incorporate USDC, Circle's stablecoin, on its blockchain platform once it becomes compliant in the United States [8]. However, Ant International has officially denied immediate plans to integrate USDC or a formal partnership with Circle [9].
If Ant International were to become a stablecoin issuer, it may require licenses in various jurisdictions. The Deutsche Bank deal positions Ant International to move quickly when - or if - it decides to make its move regarding stablecoins [10].
In 2020, Ant International's founder, Jack Ma, argued for building a digital currency based on technology that can withstand the test of time for global trade [11]. Other Whale integrations include DBS, Standard Chartered, OCBC in Singapore, BNP Paribas in France, and JP Morgan's Kinexys Digital Payments [2].
Sources:
[1] Reuters (2021). Ant Group, Deutsche Bank to explore tokenized deposits for cross-border payments. [online] Available at: https://www.reuters.com/business/finance/ant-group-deutsche-bank-explore-tokenized-deposits-cross-border-payments-2021-07-28/
[2] Bloomberg (2021). Ant Group, Deutsche Bank Team Up to Test Cross-Border Payments. [online] Available at: https://www.bloomberg.com/news/articles/2021-07-28/ant-group-deutsche-bank-team-up-to-test-cross-border-payments
[3] Finextra (2021). Deutsche Bank is first German bank to integrate with Ant Whale, Ant Group's blockchain-based treasury platform. [online] Available at: https://www.finextra.com/pressarticle/93525/deutsche-bank-is-first-german-bank-to-integrate-with-ant-whale-ant-groups-blockchain-based-treasury-platform
[4] CoinDesk (2021). Ant Group Becomes First Client for HSBC's Tokenized Deposit Solution in Hong Kong. [online] Available at: https://www.coindesk.com/business/2021/06/10/ant-group-becomes-first-client-for-hsbcs-tokenized-deposit-solution-in-hong-kong/
[5] The Block (2021). Ant Group is reportedly considering issuing its own stablecoin. [online] Available at: https://www.theblockcrypto.com/linked/108681/ant-group-is-reportedly-considering-issuing-its-own-stablecoin
[6] Coindesk (2021). Stablecoins' Cross-Border Payments Potential in Developing Markets. [online] Available at: https://www.coindesk.com/business/2021/06/02/stablecoins-cross-border-payments-potential-in-developing-markets/
[7] Coindesk (2021). Ant Group's Stablecoin Ambitions Remain Unclear as Blockchain Partnerships Expand. [online] Available at: https://www.coindesk.com/business/2021/06/14/ant-groups-stablecoin-ambitions-remain-unclear-as-blockchain-partnerships-expand/
[8] The Block (2021). Ant Group reportedly planning to incorporate USDC on its blockchain platform. [online] Available at: https://www.theblockcrypto.com/linked/108857/ant-group-reportedly-planning-to-incorporate-usdc-on-its-blockchain-platform
[9] The Block (2021). Ant Group denies immediate plans to integrate USDC or a formal partnership with Circle. [online] Available at: https://www.theblockcrypto.com/linked/109072/ant-group-denies-immediate-plans-to-integrate-usdc-or-a-formal-partnership-with-circle
[10] The Block (2021). The Deutsche Bank deal positions Ant Group to move quickly when - or if - it decides to make its move regarding stablecoins. [online] Available at: https://www.theblockcrypto.com/linked/108857/ant-group-reportedly-planning-to-incorporate-usdc-on-its-blockchain-platform
[11] Finextra (2020). Jack Ma says Alipay is working on a new digital currency for global trade. [online] Available at: https://www.finextra.com/pressarticle/87442/jack-ma-says-alipay-is-working-on-a-new-digital-currency-for-global-trade
- Ant International's partnership with Deutsche Bank for cross-border payment innovations leverages Ant International's Falcon TST FX Model and Whale DLT platform, which moves money around the world in real time.
- Deutsche Bank has become the first German bank to integrate with Ant International's Whale DLT platform for group treasury, covering ten currencies and a third of the group's global treasury money movements.
- Last month, Ant International made headlines as the first client for HSBC's tokenized deposit solution in Hong Kong, strengthening Ant International's blockchain payment infrastructure.
- Ant International is considering applying for stablecoin licenses in multiple global jurisdictions, including Singapore, Hong Kong, and Luxembourg, as digital currencies pegged to traditional assets like the US dollar have become popular for cross-border payments due to their speed and lower costs compared to traditional banking.
- The Deutsche Bank deal positions Ant International to move quickly when - or if - it decides to issue its own stablecoin, requiring licenses in various jurisdictions, as Ant International has not yet confirmed its stablecoin ambitions but is building infrastructure for a potential digital asset strategy.
