DBS Launches DBS Treasury Tokens Powered by Blockchain with Ant International to Provide Clients with 24/7 Treasury & Liquidity Management
14th August | Hong Kong
DBS has launched DBS Treasury Tokens powered by blockchain with Ant International to provide clients with 24/7 treasury & liquidity management. DBS (13/8/24): “DBS today announced the pilot launch of DBS Treasury Tokens, a next-generation treasury and liquidity management solution, in collaboration with Ant International. Ant International will be able to use the digital form factor to achieve instant, multi-currency treasury and liquidity management on DBS’ permissioned blockchain for their entities across multiple markets. In addition, DBS’ permissioned blockchain is integrated with Ant International’s Whale platform, enabling Ant International to seamlessly manage their intragroup liquidity on a 24/7 basis, thereby optimising workflow and visibility. Ant International’s Whale platform is its next-generation treasury management solution that utilises blockchain technology, advanced encryption and artificial intelligence to improve the efficiency and transparency of fund movements between bank accounts. Large corporates like Ant International which operate several entities across multiple markets need to manage payments, collections, funding needs and cash positions across time-zones and currencies.”
“ DBS Launches DBS Treasury Tokens Powered by Blockchain with Ant International to Provide Clients with 24/7 Treasury & Liquidity Management “
Kelvin Li, Head of Platform Tech, Ant International: “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.”
Soon Chong Lim, Group Head of Global Transaction Services, DBS Bank: “This new capability comes at a time when the treasury needs of businesses are evolving to meet the rise of e-commerce and on-demand services on a 24/7 basis. 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.”
DBS Launches DBS Treasury Tokens Powered by Blockchain with Ant International to Provide Clients with 24/7 Treasury & Liquidity Management
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