- New Initiative by DBS and Ant International
- Blockchain in Treasury and Liquidity Management
- Tokenization Market and Chainlink's Role
A new partnership project between Singapore's largest bank DBS and Ant International, a subsidiary of Alibaba Group, aims to implement blockchain solutions for liquidity and treasury management.
New Initiative by DBS and Ant International
DBS, Singapore's largest bank, has announced a new partnership with Ant International, a subsidiary of Alibaba Group. This partnership aims to use DBS's blockchain solutions for liquidity and treasury management. Ant International will use the DBS Treasury Tokens to reduce the settlement time for intragroup transactions from days to seconds, as well as to cut costs.
Blockchain in Treasury and Liquidity Management
Ant International is integrating the DBS blockchain with its Whale Platform, allowing the company to have an instant and multi-currency treasury solution. Kevin Li, who heads Ant International's platform technology, described the partnership as an important step forward.
CITE_W_A: “We have already seen successful use cases on our Whale platform in areas such as instant tax refund services and SME cross-border payments, and we will continue working together with industry partners to expand the possibilities of cross-border payments,” stated Kevin Li.
Tokenization Market and Chainlink's Role
Tokenization continues to gain traction, with Chainlink being one of the key players in this growth. Tokenization offers significant benefits, including improved transparency and the opening of new business models. Chainlink's oracles, such as CCIP, provide cross-chain interoperability, allowing the transfer of funds and messages across hundreds of blockchains.
The new initiative by DBS and Ant International demonstrates how blockchain solutions can significantly improve liquidity and treasury management processes by reducing transaction times and cutting costs. Further development of tokenization opens up new business opportunities and enhances financial transaction transparency.
