Deniz 
Working with Ant International, the global branch of Alibaba’s fintech partner Ant Group, DBS Bank, the biggest bank in Singapore by assets, today started a test of “DBS Treasury Tokens.” This project seeks to enhance liquidity and treasury management.
DBS clarified in a statement that this experiment runs on a permissioned blockchain, allowing Ant International businesses across several markets to manage multi-currency treasuries and liquidity.
The project specifically seeks to assist Ant International in lowering the settlement of intra-group transactions “from possibly days to seconds,” DBS stated. “This maximizes intra-group liquidity and working capital, giving corporate treasurers more visibility, predictability, and control over the whole group’s cash position,” the bank said.
According to Lim Soon Chong, group head of global transaction services at DBS Bank, the new pilot arrives “when the treasury needs of businesses are evolving to meet the rise of e-commerce and on-demand services on a 24/7 basis.”
“DBS’ permissioned blockchain also forms the building block for new efficiencies and capabilities in traditional banking services, such as programmable, fractionalized, and atomic value transfer,” Lim said.
Head of platform technology at Ant International, Kelvin Li, said the pair has already seen usage cases in sectors such as rapid tax refund services and cross-border payments for small and midsize companies on the company’s Whale platform.
The latest treasury tokens from DBS Bank come from the bank’s involvement in Project Orchid and Project Guardian, both under the direction of the Monetary Authority of Singapore, in an effort to investigate tokenizing’s advantages.
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