DBS Bank and Ant International test blockchain-based treasury management solution

BlockBeats news, on August 16, according to Pymnts, DBS Bank and Ant International have launched a pilot of blockchain financial and liquidity management solutions, aiming to help Ant International reduce the settlement time of internal group transactions from days to seconds. The solution, called DBS Treasury Tokens, will enable Ant International, a digital payment and financial services solutions provider, to use digital forms on DBS Bank's licensed blockchain to achieve instant, multi-currency treasury and liquidity management for its entities across multiple markets.

It is reported that this pilot stems from DBS Bank's experience in participating in two projects led by the Monetary Authority of Singapore: Project Orchid, which aims to develop the technology required for a digital Singapore dollar; and Project Guardian, which brings together policymakers and financial practitioners to use asset tokenization to improve the liquidity and efficiency of financial markets.