standard chartered and Ant International has successfully completed its first Singapore dollar (SGD) transaction using the latter’s blockchain-based Whale platform.
This is a major step towards instant and 24/7 financial management for both companies, optimizing financial 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.
The solution leverages blockchain technology, including advanced cryptography and AI, to increase the efficiency and transparency of fund transfers and improve global liquidity management.
This result is Recent successful test payments Transactions between the two companies denominated in Hong Kong dollars (HKD).
“We continue to invest in platforms and upgrades that enable seamless interoperability and compatibility, supporting our clients with instant access, visibility and control of their liquidity and working capital.
Our collaboration with Ant International brings us even closer to our goal of providing real-time, 24/7, transparent and secure liquidity flows to our clients. ”
Mahesh Kini, Global Head of Cash Management at Standard Chartered, said:
“We are pleased to have successfully reached a blockchain test settlement with Standard Chartered in Hong Kong and to expand our partnership to Singapore, home to Ant International’s global headquarters.
We look forward to building on the momentum of our collaboration and continuing to develop new solutions to make global liquidity management even more seamless and secure for businesses around the world. ”
Kelvin Lee, Head of Platform Technology at Ant International, said:
Featured image credit: Edited from freepic
