Singapore’s Biggest Bank DBS Rolls Out Blockchain-Powered ‘Treasury Tokens’ Pilot
Singapore’s largest bank by assets ‘DBS Bank’ has reportedly launched a pilot of “DBS Treasury Tokens” - a new blockchain-based treasury and liquidity management solution developed in collaboration with Ant International, the international division of Alibaba’s fintech affiliate Ant Group.
As part of the pilot, Ant International will use the solution for instant and multicurrency treasury and liquidity management in various markets. DBS explained that this pilot operates on its permissioned blockchain and that it aims to help Ant International reduce the settlement of intra-group transactions “from potentially days to seconds.”