China-based fintech Ant Group and HSBC signed a memorandum of understanding (MoU) at Hong Kong FinTech Week to expand their partnership across mobile payments, account services, foreign exchange, and treasury management.

The companies said the deal aims to improve global mobile payment connectivity and speed up the development of account and treasury management services.

It builds on their existing work in payment connectivity and real-time treasury management for enterprise clients.

Ant International and HSBC also announced a treasury management expansion to the Middle East.

Separately, HSBC said Ant International was the first company to use its Tokenized Deposit Service.

🔗 Source: Alipay+

Recent Ant Group developments