PANews reported on August 13 that according to Cointelegraph, 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 today that it will pilot the DBS Treasury Tokens pilot project, which Ant International will use for instant multi-currency funding management and liquidity management. The new DBS Treasury Tokens that Ant International will use exist on a blockchain licensed by DBS Bank for use by its entities in multiple markets.
DBS Bank introduced that its permissioned blockchain is compatible with the Ethereum Virtual Machine (EVM) and integrated with the bank's core payment engine. This development enhances the system's scalability and interoperability with various industry payment infrastructures connected to DBS Bank. The bank also pointed out that the blockchain has been integrated with Ant International's fund management platform Whale. This enables the company to manage its internal liquidity of the group without interruption, which DBS Bank believes can optimize workflow and visibility. In addition to blockchain technology, Ant Financial's Whale platform also uses artificial intelligence and encryption technology to improve the transparency and efficiency of fund transfers between bank accounts.
