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News

DBS Launches ‘DBS Treasury Tokens’ Blockchain Pilot in Singapore

August 13, 2024 - Around 2 mins mins to read
Key Points:
  • DBS Bank has launched a “DBS Treasury Tokens” pilot with Ant International.
  • The pilot is powered by DBS’ permissioned blockchain, which supports multi-currency treasury and liquidity management across various markets for Ant International entities.
DBS Bank and Ant International have tested “DBS Treasury Tokens” on a permissioned blockchain to speed up payments and enhance liquidity
DBS Launches DBS Treasury Tokens Blockchain Pilot in Singapore

DBS Treasury Tokens Pilot with Ant International

DBS Bank, Singapore’s largest bank by assets, has launched a pilot project for “DBS Treasury Tokens” in partnership with Ant International, Alibaba’s fintech affiliate. The project aims to improve treasury and liquidity management by leveraging DBS’s permissioned blockchain.

The blockchain facilitates multi-currency treasury management for Ant International, reducing settlement times from days to seconds and optimizing liquidity and working capital within the group.

Read More: Crypto-Friendly Customers Bank Sanctioned by Fed For Anti Money Laundering Deficiencies

Innovations and Applications of DBS Treasury Tokens

The DBS Treasury Tokens pilot project comes as the need for corporate treasuries grows with the rise of e-commerce and on-demand services. According to DBS, its permissioned blockchain lays the foundation for new efficiencies in traditional banking, such as programmable and fractional value transfers.

Kelvin Li of Ant International highlighted the project’s success in terms of instant tax refunds and cross-border payments on Ant’s Whale platform. The project builds on DBS’s involvement in Project Orchid and Project Guardian, initiatives by the Monetary Authority of Singapore to explore the benefits of tokenization.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Alibaba

Ant International

bank

singapore

Author

William

In the fast-paced world of day trading, I've honed my skills for over six years using technical analysis tools and crafting short-term strategies. My expertise isn't from textbooks but from the trenches of online trading communities. I excel at reading chart patterns, applying technical analysis, and mastering risk management. "The market is about probabilities," I declare. As Editor at Coincu, I empower readers with the insights and strategies to conquer the dynamic world of day trading.
News

DBS Launches ‘DBS Treasury Tokens’ Blockchain Pilot in Singapore

Key Points:
  • DBS Bank has launched a “DBS Treasury Tokens” pilot with Ant International.
  • The pilot is powered by DBS’ permissioned blockchain, which supports multi-currency treasury and liquidity management across various markets for Ant International entities.
DBS Bank and Ant International have tested “DBS Treasury Tokens” on a permissioned blockchain to speed up payments and enhance liquidity
DBS Launches DBS Treasury Tokens Blockchain Pilot in Singapore

DBS Treasury Tokens Pilot with Ant International

DBS Bank, Singapore’s largest bank by assets, has launched a pilot project for “DBS Treasury Tokens” in partnership with Ant International, Alibaba’s fintech affiliate. The project aims to improve treasury and liquidity management by leveraging DBS’s permissioned blockchain.

The blockchain facilitates multi-currency treasury management for Ant International, reducing settlement times from days to seconds and optimizing liquidity and working capital within the group.

Read More: Crypto-Friendly Customers Bank Sanctioned by Fed For Anti Money Laundering Deficiencies

Innovations and Applications of DBS Treasury Tokens

The DBS Treasury Tokens pilot project comes as the need for corporate treasuries grows with the rise of e-commerce and on-demand services. According to DBS, its permissioned blockchain lays the foundation for new efficiencies in traditional banking, such as programmable and fractional value transfers.

Kelvin Li of Ant International highlighted the project’s success in terms of instant tax refunds and cross-border payments on Ant’s Whale platform. The project builds on DBS’s involvement in Project Orchid and Project Guardian, initiatives by the Monetary Authority of Singapore to explore the benefits of tokenization.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.