According to PANews, DBS Bank, a multinational banking and financial services company, has partnered with digital payment provider Ant International to launch a new blockchain-based funding and liquidity management solution. DBS Bank announced the pilot launch of the DBS Treasury Tokens project, which Ant International will use for instant multi-currency funding management and liquidity management.
DBS Bank introduced that its permissioned blockchain is compatible with the Ethereum Virtual Machine (EVM) and integrated with the bank's core payment engine to enhance the scalability and interoperability of the system. The blockchain has been integrated with Ant International's fund management platform Whale, enabling it to manage liquidity within the group uninterruptedly and optimize workflows and visibility. Ant Financial's Whale platform also uses artificial intelligence and encryption technology to improve the transparency and efficiency of fund transfers between bank accounts.