DBS & Ant International roll-out blockchain-led Treasury Tokens pilot

By Gloria Mathias

DBS has announced the pilot launch of DBS Treasury Tokens, a next-generation treasury and liquidity management solution, in collaboration with Ant International.

Ant International will be able to use the digital form factor to achieve instant, multi-currency treasury and liquidity management for its entities across multiple markets on DBS’ permissioned blockchain.

In addition, DBS’ permissioned blockchain is integrated with Ant International’s Whale platform, enabling Ant International to seamlessly manage intragroup liquidity 24/7, thereby optimising workflow and visibility.

Ant International’s Whale platform is its next-generation treasury management solution. It uses blockchain technology, advanced encryption and artificial intelligence to improve the efficiency and transparency of fund movements between bank accounts.

Kelvin Li, Head of Platform Tech, Ant International said, “This milestone with DBS is an important step forward in addressing challenges like reducing costs and transaction risks for cross-border payments. We have already seen successful use cases on our Whale platform in areas such as instant tax refund services and SME cross-border payments, and we will continue working together with industry partners and leveraging blockchain technology to enable more open and inclusive cross-border payments.”

Large corporates like Ant International, which operate several entities across multiple markets, need to manage payments, collections, funding needs and cash positions across time zones and currencies. DBS Treasury Tokens enable Ant International to reduce the settlement of intra-group transactions from potentially days to seconds.

Lim Soon Chong, Group Head of Global Transaction Services, DBS Bank, said, “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 demonstrate 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.”

This DBS product launch reaffirms how established commercial banks and financial institutions can harness blockchain technology and smart contracts to deliver the next generation of banking services on a 24/7, atomic, and programmable basis.