TradFi lender DBS launches EVM-compatible blockchain solution for treasury, liquidity management
Singapore-based DBS Financial institution has announced the pilot launch of DBS Treasury Tokens, a brand new blockchain-based treasury and liquidity management solution developed in collaboration with Ant Worldwide.
The solution, powered by DBS’ permissioned blockchain, is designed to enhance the effectivity and velocity of multi-currency treasury operations for Ant Worldwide’s entities throughout varied markets.
Blockchain solution
DBS Treasury Tokens allow Ant Worldwide to constantly handle liquidity in a number of currencies. The combination of DBS’ permissioned blockchain with Ant Worldwide’s Whale platform permits for seamless intragroup liquidity management, aimed toward optimizing workflow and enhancing monetary visibility throughout the group.
Ant Worldwide’s Whale platform incorporates blockchain know-how, superior encryption, and AI in its treasury management system. In line with Kelvin Li, Head of Platform Tech at Ant Worldwide, the collaboration with DBS marks progress in addressing challenges associated to cross-border funds, together with lowering prices and transaction dangers.
The DBS Treasury Tokens are significantly related for giant companies like Ant Worldwide, which function throughout a number of markets and time zones. The tokens are supposed to scale back the settlement time for intra-group transactions, doubtlessly from days to seconds, and to reinforce liquidity and dealing capital management.
Lim Quickly Chong, Group Head of World Transaction Companies at DBS Financial institution, famous that the introduction of DBS Treasury Tokens aligns with evolving enterprise wants, significantly in response to the expansion of e-commerce and on-demand providers.
The solution is a part of DBS’ broader efforts to leverage blockchain know-how to enhance conventional banking providers, together with in areas akin to programmable and fractionalized worth switch.
The DBS permissioned blockchain, which is appropriate with the Ethereum digital machine (EVM), is built-in with the financial institution’s core funds engine. This setup goals to reinforce the system’s compatibility with varied trade fee infrastructures.
Venture Guardian
The event of DBS Treasury Tokens is knowledgeable by the financial institution’s participation within the Financial Authority of Singapore’s (MAS) Venture Orchid and Venture Guardian, each of which discover the usage of tokenization in monetary providers.
Ant Worldwide can also be concerned in Venture Guardian and has developed a treasury management solution that helps real-time multi-currency clearing and settlement, encompassing over 40 currencies.
Venture Guardian is a collaborative initiative led by the Financial Authority of Singapore (MAS) aimed toward exploring the potential of asset tokenization and DeFi in enhancing the effectivity and liquidity of monetary markets.
Launched in 2022, the venture brings collectively policymakers, monetary establishments, and trade gamers to check and develop use circumstances for digital property inside a regulated surroundings.
