The leading multinational bank DBS has partnered with digital payment provider Ant International to create a new blockchain-based solution for treasury tokens and liquidity management.
On Aug. 13, DBS Bank announced the pilot launch of DBS Treasury Tokens. Consequently, Ant International will use these tokens for instant and multicurrency management across its entities on DBS’s permissioned blockchain.
DBS integrates EVM-compatible permissioned blockchain
Permissioned blockchains, or private blockchains, are networks with restricted access. Participants need approval from the network owner to join and have specific pre-approved authority levels. While they use distributed ledger technology, they remain only partially decentralized.
According to DBS, its permissioned blockchain is EVM-compatible and integrated with its core payments engine, boosting system extensibility and interoperability with industry payment infrastructures. Furthermore, it integrates with Ant International’s treasury management platform, Whale. This integration enables seamless intragroup liquidity management and optimizing workflow and visibility.
Additionally, Ant’s Whale platform uses AI and encryption alongside blockchain technology to improve the transparency and efficiency of bank fund transfers.
Testing the tokenization benefits
The announcement highlighted that the DBS Treasury Tokens project builds on the company’s insights and systems. Specifically, this experience comes from participating in the Monetary Authority of Singapore’s (MAS) Project Orchid and Project Guardian. The project explores the advantages of tokenization.
DBS states that Project Guardian has tested Treasury Tokens among its applications. Lim Soon Chong, DBS Bank’s group head of global transaction services, stated that the new project addresses an urgent need. This comes from the growth of e-commerce and on-demand services.
The executive said:
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.
Moreover, the integration of DBS’s permissioned blockchain underpins new efficiencies in traditional banking services, enabling programmable, fractionalized, and atomic value transfers. This advancement represents a major step forward in financial services, blending the strength of blockchain technology with the practical needs of today’s financial management.
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