DBS Bank and Ant International Launch Blockchain-Based Treasury Solution
DBS Bank has teamed up with Ant International to introduce a new blockchain-driven treasury and liquidity management system.
Announced on August 13, the DBS Treasury Tokens will be utilized by Ant International for real-time, multi-currency financial management.
These tokens will operate on DBS Bank’s private blockchain, which is designed for secure and controlled access. This blockchain integrates with the Ethereum Virtual Machine (EVM) and DBS’s core payment systems, enhancing compatibility with various payment networks.
Ant International’s treasury management platform, Whale, will leverage these tokens for seamless liquidity management, benefiting from the bank’s blockchain’s extensibility and interoperability. Whale also incorporates AI and encryption to boost the efficiency of fund transfers.
READ MORE:
Is BlackRock About to Launch its Very Own Blockchain?The DBS Treasury Tokens project builds on insights gained from the Monetary Authority of Singapore’s (MAS) Project Orchid and Project Guardian, which explore the potential of tokenization.
DBS Bank’s global transaction services head, Lim Soon Chong, emphasized that this initiative addresses the growing need for scalable liquidity management in the e-commerce and on-demand sectors.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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