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DBS Bank has rolled out its latest project, DBS Treasury Tokens, wanting to change how big companies handle their money.&nbsp;
It’s a major step involving blockchain technology, brought to life through a partnership with Ant International.&nbsp;
What’s the point? To give Ant International the ability to manage their money across multiple markets instantly and in different currencies using DBS’s permissioned blockchain.
Here’s the deal: DBS’s blockchain hooks up with Ant International’s Whale platform, which already uses blockchain and AI to move money between bank accounts more efficiently.&nbsp;
By teaming up, they claim to have created a system that lets Ant International manage its cash flow 24/7. No more waiting around for transactions to clear. It’s all happening in real-time, anytime, anywhere.
The team told us that they’ve already seen success with the Whale platform in handling things like instant tax refunds and cross-border payments for small businesses.&nbsp;
Now, with DBS on board, they’re looking to push things further, making cross-border payments simpler and more accessible. Lim Soon Chong, the bank’s Group Head of Global Transaction Services, summed it <a href="https://www.dbs.com/newsroom/DBS_launches_blockchain_powered_Treasury_Tokens_pilot_with_Ant_International_for_247_treasury_and_liquidity_management" rel="noopener noreferrer nofollow" target="_blank">up</a> by saying:&nbsp;
<blockquote>
 “This new capability comes at a time when the treasury needs of businesses are evolving to meet the rise of e-commerce and on-demand services on a 24/7 basis.”&nbsp;
</blockquote>
The Treasury Tokens are the result of years of work, including DBS’s participation in the Monetary Authority of Singapore’s Project Orchid and Project Guardian.&nbsp;
These projects have focused on the benefits of tokenization—basically, turning assets into digital tokens that can be traded and settled more efficiently.&nbsp;
DBS has been testing out things like Purpose Bound Money and atomic settlement use cases since 2016.

DBS Bank partners with Ant International on blockchain treasury solution

Cryptopolitan_News

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