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 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. |
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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 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. |
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