DBS has launched a pilot of the DBS Treasury Token, a blockchain-based solution designed for next-generation treasury and liquidity management. Ant International.
The digital platform will enable Ant International to instantly manage multi-currency treasury operations across various markets using DBS’ permissioned blockchain.
Integrated with Ant International’s Whale platform, the blockchain system will enable round-the-clock management of intra-group liquidity, streamlining workflows and improving visibility.
Ant International’s Whale platform leverages blockchain, advanced encryption and AI to make transferring funds between bank accounts more efficient and transparent.
The DBS Treasury Token is aimed at catering to the needs of large companies like Ant International that operate across multiple markets.
The solution reduces settlement times for intra-group transactions from days to seconds, optimizing liquidity and working capital while giving corporate treasurers better control and predictability over cash balances.
DBS’ blockchain is compatible with the Ethereum Virtual Machine (EVM) and integrated with core payment systems, improving interoperability with payment infrastructure across industries.
The announcement highlights how existing financial institutions can leverage blockchain technology to provide advanced 24/7 banking services.
The development of the DBS Treasury Token builds on the bank’s participation in Project Orchid and Project Guardian, initiatives led by the Monetary Authority of Singapore to explore the benefits of tokenization.
Ant International is also involved in Project Guardian, which focuses on real-time multi-currency payments across more than 40 currencies.
Kelvin Li, head of platform technology at Ant International, said:
“This milestone with DBS marks an important step in addressing the challenges of reducing cross-border payment costs and transaction risks.
“We have already seen success stories on our Whale platform in areas such as instant tax refund services and cross-border payments for small and medium-sized enterprises, and we look forward to continuing to work with industry partners to leverage blockchain technology to make cross-border payments more open and inclusive.”
Lim Soon Cheong, Group Head, Global Transaction Services DBS Banksaid,
“DBS Treasury Token’s partnership with Ant International demonstrates that businesses can seize opportunities like this with full confidence that their liquidity management capabilities can be scaled in tandem.
DBS’ permissioned blockchain will also form the basis for new efficiencies and capabilities in traditional banking services, such as programmable, divisible and atomic value transfer.”
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