DBS Bank launches blockchain-driven treasury token pilot project

ChainCatcher news, according to Cointelegraph, multinational bank and financial services company DBS Bank has partnered with digital payment provider Ant International to launch a new blockchain-based funding and liquidity management solution. DBS Bank announced today the pilot launch of the DBS Treasury Tokens pilot project, where Ant International will use the tokens for instant multi-currency fund management and liquidity management. The new DBS treasury tokens that Ant International will use exist on a blockchain licensed by DBS Bank, available for use by its entities in multiple markets.

DBS Bank introduced that its licensed blockchain is compatible with the Ethereum Virtual Machine (EVM) and is integrated with the bank's core payment engine. This development enhances the system's scalability and interoperability with various industry payment infrastructures connected to DBS Bank. The bank also noted that the blockchain has been integrated with Ant International's fund management platform, Whale. This allows the company to manage its internal liquidity seamlessly, and DBS Bank believes this can optimize workflows and visibility. In addition to blockchain technology, Ant Financial's Whale platform also leverages artificial intelligence and cryptography to enhance the transparency and efficiency of fund transfers between bank accounts.