DBS Bank has partnered with Ant International to pilot a blockchain-based solution for treasury and liquidity management, launching the DBS Treasury Tokens on August 13.
Blockchain Integration
The DBS Treasury Tokens will operate on DBS Bank’s permissioned, Ethereum Virtual Machine (EVM)-compatible blockchain, enhancing security and interoperability across various markets. The blockchain is integrated with DBS’s core payment engine and Ant International’s treasury management platform, Whale.
Advanced Capabilities
The Whale platform utilizes AI and encryption to improve transparency and efficiency in fund transfers between bank accounts. The integration with DBS’s blockchain allows Ant International to manage intragroup liquidity seamlessly.
Tokenization and Industry Testing
The DBS Treasury Tokens build on the bank’s experience from Singapore’s Monetary Authority projects (Project Orchid and Project Guardian), which explore the benefits of tokenization. These tokens represent a tested application within these initiatives.
Business Impact
Lim Soon Chong, DBS Bank’s Group Head of Global Transaction Services, emphasized that the solution addresses the growing demands of e-commerce and on-demand services, providing corporates with scalable liquidity management capabilities.
Conclusion
The partnership between DBS Bank and Ant International introduces an innovative blockchain-based treasury and liquidity management solution, leveraging permissioned blockchain technology.
The DBS Treasury Tokens pilot not only enhances operational efficiency but also represents a significant step towards integrating blockchain technology into traditional banking services, promising new capabilities like programmable and fractionalized value transfer.