DBS Bank and Ant International test blockchain-based fund management solutions

According to BlockBeats news on August 16, as reported by Pymnts, DBS Bank and Ant International have launched a pilot for blockchain financial and liquidity management solutions. The aim is to help Ant International reduce the settlement time of intra-group transactions from several days to just seconds. This solution, named DBS Treasury Tokens, will enable digital payment and financial service solution provider Ant International to manage instant multi-currency finance and liquidity across multiple markets in digital form on the blockchain authorized by DBS Bank.

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