According to BlockBeats, on August 16, DBS Bank and Ant International initiated a pilot for a blockchain-based financial and liquidity management solution. This initiative aims to reduce the settlement time for internal transactions within Ant International from several days to mere seconds. The solution, named DBS Treasury Tokens, will enable Ant International, a provider of digital payment and financial services solutions, to leverage digital forms on DBS Bank's permissioned blockchain for instant, multi-currency treasury and liquidity management across its various market entities.

The pilot stems from DBS Bank's involvement in two projects led by the Monetary Authority of Singapore: Project Orchid and Project Guardian. Project Orchid focuses on developing the necessary technology for a digital Singapore dollar, while Project Guardian brings together policymakers and financial industry players to enhance financial market liquidity and efficiency through asset tokenization.