Standard Chartered and Ant International have successfully completed their first Singapore dollar (SGD) transaction using the latter’s blockchain-based Whale platform.
This marks a major step towards instant and 24/7 treasury management for both companies, optimising treasury and working capital management for Ant International and its entities.
By integrating with the Whale platform, Standard Chartered facilitated the seamless transfer of SGD liquidity within Ant International’s group of entities.
This solution leverages blockchain technology, including advanced encryption and AI, to enhance the efficiency and transparency of fund movements for improved global liquidity management.
This achievement builds on a recent successful test settlement of a Hong Kong dollar (HKD)-denominated transaction between the two companies.
“We continue to invest in our platforms and upgrade to enable seamless interoperability and compatibility to support our clients in achieving instant access, visibility, and control of their liquidity and working capital.
Our collaboration with Ant International brings us ever closer to our goal of providing real time, 24/7, transparent and secure liquidity flows for our clients.”
said Mahesh Kini, Global Head of Cash Management at Standard Chartered.
“Following the successful blockchain test settlements that we have achieved with Standard Chartered in Hong Kong, we are delighted to expand our partnership to Singapore, the home of Ant International’s global headquarters.
We hope to build on the momentum of our previous collaboration and continue developing new solutions to make global liquidity management even more seamless and secure for businesses around the world,”
said Kelvin Li, Head of Platform Tech at Ant International.
Featured image credit: Edited from Freepik
