DBS Bank and Ant International have joined forces to introduce a blockchain-based treasury and liquidity management solution. DBS Treasury Tokens, launched on Aug. 13, will enable Ant International to conduct instant and multicurrency treasury operations. These tokens, residing on DBS' permissioned blockchain, offer enhanced security and access control. The blockchain, compatible with Ethereum Virtual Machine, integrates seamlessly with DBS' payment engine and Ant International's Whale platform. This integration optimizes intragroup liquidity management, workflow efficiency, and visibility. The project builds on DBS' participation in MAS initiatives like Project Orchid and Project Guardian, focusing on tokenization benefits. Lim Soon Chong, DBS Bank's group head of global transaction services, emphasized the project's response to the growing e-commerce landscape. The collaboration not only streamlines traditional banking services but also explores innovative value transfer mechanisms. Read more AI-generated news on: https://app.chaingpt.org/news