By 
DBS Bank has launched a pilot for its new DBS Treasury Tokens, a blockchain-powered solution designed to enhance corporate liquidity management across various markets. This initiative marks a significant collaboration with digital payment provider Ant International.
Announced on August 13, the pilot involves the use of DBS Treasury Tokens on a permissioned, Ethereum Virtual Machine (EVM)-compatible blockchain. This development aims to streamline and secure instant, multicurrency treasury and liquidity management for Ant International.
The DBS Treasury Tokens are integrated into DBS’s permissioned blockchain network, which operates with controlled access, ensuring that only authorized participants can engage with the network. Although it uses distributed ledger technology (DLT), the blockchain is partially decentralized and requires permission for network entry.
DBS’s blockchain is compatible with the EVM and is linked with the bank’s core payments engine, enhancing its extensibility and interoperability with various industry payment infrastructures. Additionally, it is integrated with Ant International’s treasury management platform, Whale, allowing seamless management of intragroup liquidity and improving workflow and visibility.
The Whale platform, which also incorporates artificial intelligence and encryption, aims to boost transparency and efficiency in fund transfers between bank accounts.
This new initiative builds on DBS’s experience with the Monetary Authority of Singapore’s (MAS) Project Orchid and Project Guardian, which explore the benefits of tokenization. DBS Treasury Tokens are among the solutions being tested under Project Guardian.
Lim Soon Chong, DBS Bank’s Group Head of Global Transaction Services, highlighted the importance of this project in meeting the evolving needs driven by e-commerce and on-demand services. He stated, “DBS Treasury Tokens and our partnership with Ant International show how corporates can confidently scale their liquidity management capabilities in response to growing demands.”
Chong also emphasized that DBS’s permissioned blockchain is set to drive new efficiencies and capabilities in traditional banking, including programmable, fractionalized, and atomic value transfer.
Comments