DBS has initiated the pilot of the “DBS Treasury Tokens”, a blockchain-based solution designed for next-generation treasury and liquidity management, in collaboration with Ant International.
This digital platform allows Ant International to manage multi-currency treasury operations instantly across various markets using DBS’ permissioned blockchain.
The blockchain system, integrated with Ant International’s Whale platform, enables round-the-clock management of intragroup liquidity, streamlining workflows and enhancing visibility.
Ant International’s Whale platform leverages blockchain, advanced encryption, and AI to boost the efficiency and transparency of fund movements between bank accounts.
DBS Treasury Tokens aim to address the needs of large corporations like Ant International, which operate across multiple markets.
The solution reduces the settlement time for intra-group transactions from days to seconds, optimising liquidity and working capital while offering corporate treasurers improved control and predictability over cash positions.
DBS’ blockchain is compatible with the Ethereum Virtual Machine (EVM) and integrates with its core payments system, enhancing interoperability with various industry payment infrastructures.
This launch underscores how established financial institutions can utilise blockchain technology to offer advanced, 24/7 banking services.
The development of DBS Treasury Tokens is informed by the bank’s participation in the Monetary Authority of Singapore-led initiatives, Project Orchid and Project Guardian, which explore the benefits of tokenisation.
Ant International is also involved in Project Guardian, focusing on real-time multi-currency clearing and settlement across over 40 currencies.
Kelvin Li, Head of Platform Tech, Ant International said,
“This milestone with DBS is an important step forward in addressing challenges like reducing costs and transaction risks for cross-border payments.
We have already seen successful use cases on our Whale platform in areas such as instant tax refund services and SME cross-border payments, and we will continue working together with industry partners and leveraging blockchain technology to enable more open and inclusive cross-border payments.”
Lim Soon Chong, Group Head of Global Transaction Services, DBS Bank, said,
“DBS Treasury Tokens and our partnership with Ant International demonstrates how corporates can seize such opportunities with full confidence that their liquidity management capabilities can scale in tandem.
DBS’ permissioned blockchain also forms the building block for new efficiencies and capabilities in traditional banking services, such as programmable, fractionalised and atomic value transfer.”
Featured image credit: Edited from Freepik
