Singapore-based DBS Bank has announced the pilot launch of DBS Treasury Tokens, a new blockchain-based treasury and liquidity management solution developed in collaboration with Ant International.
The solution, powered by DBS’ permissioned blockchain, is designed to improve the efficiency and speed of multi-currency treasury operations for Ant International’s entities across various markets.
Blockchain solution
DBS Treasury Tokens enable Ant International to continuously manage liquidity in multiple currencies. The integration of DBS’ permissioned blockchain with Ant International’s Whale platform allows for seamless intragroup liquidity management, aimed at optimizing workflow and enhancing financial visibility across the organization.
Ant International’s Whale platform incorporates blockchain technology, advanced encryption, and AI in its treasury management system. According to Kelvin Li, Head of Platform Tech at Ant International, the collaboration with DBS marks progress in addressing challenges related to cross-border payments, including reducing costs and transaction risks.
The DBS Treasury Tokens are particularly relevant for large corporations like Ant International, which operate across multiple markets and time zones. The tokens are intended to reduce the settlement time for intra-group transactions, potentially from days to seconds, and to enhance liquidity and working capital management.
Lim Soon Chong, Group Head of Global Transaction Services at DBS Bank, noted that the introduction of DBS Treasury Tokens aligns with evolving business needs, particularly in response to the growth of e-commerce and on-demand services.
The solution is part of DBS’ broader efforts to leverage blockchain technology to improve traditional banking services, including in areas such as programmable and fractionalized value transfer.
The DBS permissioned blockchain, which is compatible with the Ethereum virtual machine (EVM), is integrated with the bank’s core…
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