(14 August 2024 – Singapore) DBS has announced the pilot launch of DBS Treasury Tokens, a treasury and liquidity management solution in collaboration with Ant International.
This new platform allows Ant International to achieve instant, multi-currency treasury management across multiple markets using DBS’ permissioned blockchain. By integrating with Ant International’s Whale platform, the solution enables seamless, 24/7 intragroup liquidity management, optimizing both workflow and visibility.
Ant International’s Whale platform is a next-generation treasury management system that leverages blockchain technology, advanced encryption, and artificial intelligence to enhance the efficiency and transparency of fund movements between bank accounts.
Kelvin Li, Head of Platform Tech at Ant International, highlighted that this collaboration with DBS addresses key challenges in cross-border payments by reducing costs and transaction risks. Successful use cases on the Whale platform include instant tax refunds and SME cross-border payments, demonstrating the platform’s potential to foster more inclusive and efficient financial services.
The introduction of DBS Treasury Tokens marks a significant advancement in corporate treasury management, particularly for large corporations like Ant International that operate across multiple markets and currencies. The solution aims to reduce the time required for intra-group transactions from days to seconds, providing corporate treasurers with enhanced visibility, predictability, and control over cash positions.
Lim Soon Chong, Group Head of Global Transaction Services at DBS Bank, said of the pilot, “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.”