DBS Bank Initiates Blockchain-Driven Treasury Token Pilot Project
DBS Bank and digital payment provider Ant International have collaborated to launch a new blockchain-based fund and liquidity management solution. DBS Bank announced today the pilot launch of the DBS Treasury Tokens project, with Ant International using these tokens for instant multi-currency fund management and liquidity management. The new DBS bank treasury token that Ant International will use exists on the blockchain authorized by DBS Bank for use by its entities in multiple markets. DBS Bank explained that its licensed blockchain is compatible with Ethereum Virtual Machine (EVM) and integrated with the bank's core payment engine. This development enhances system scalability and interoperability with various industry payment infrastructures connected to DBS Bank. The bank also pointed out that the blockchain has been integrated with Ant International's fund management platform Whale.
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