{"id":89616,"date":"2024-08-13T07:01:39","date_gmt":"2024-08-13T11:01:39","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=89616"},"modified":"2024-08-13T07:04:26","modified_gmt":"2024-08-13T11:04:26","slug":"dbs-bank-introduces-blockchain-powered-treasury-token-pilot","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/dbs-bank-introduces-blockchain-powered-treasury-token-pilot\/","title":{"rendered":"DBS Bank Introduces\u00a0Blockchain-Powered Treasury Token Pilot"},"content":{"rendered":"\n

The pilot offers DBS Treasury Tokens on a permissioned, EVM-compatible blockchain,\u00a0improving corporate liquidity management across several markets.<\/p>\n\n\n\n

\"DBS<\/figure>\n\n\n\n

DBS Bank, a multinational banking and financial services company, has partnered with digital payment provider Ant International to launch a new blockchain-based treasury and liquidity management solution.<\/p>\n\n\n\n

On August 13, DBS Bank\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> announced the pilot introduction of DBS Treasury Tokens, which Ant International will use for instant and multicurrency treasury and liquidity management.<\/p>\n\n\n\n

These new DBS Treasury Tokens will operate on DBS's permissioned blockchain, catering to its entities across multiple markets.<\/p>\n\n\n\n

DBS Integrates EVM-Compatible Permissioned Blockchain<\/strong><\/h2>\n\n\n\n

Permissioned blockchains, also known as \u201cprivate blockchains,\u201d feature an access control layer that restricts participation to authorized users only. <\/p>\n\n\n\n

This security mechanism ensures that only participants with certain levels of pre-approved authority can join the network. <\/p>\n\n\n\n

While permissioned blockchains utilize distributed ledger technology (DLT), they are not fully decentralized.<\/p>\n\n\n\n

DBS has stated that its permissioned blockchain is compatible with the Ethereum Virtual Machine <\/a>(EVM) and has been integrated with the bank\u2019s core payments engine. <\/p>\n\n\n\n

This integration enhances the system\u2019s extensibility and interoperability with various industry payment infrastructures connected to DBS.<\/p>\n\n\n\n

The Singapore-based bank also noted that the blockchain has been incorporated into Ant International\u2019s treasury management platform, Whale. <\/p>\n\n\n\n

This integration allows Ant International to manage its intragroup liquidity seamlessly, which DBS believes optimizes workflow and visibility.<\/p>\n\n\n\n

In addition to blockchain technology, Ant\u2019s Whale platform employs artificial intelligence and encryption to improve the transparency and efficiency of fund transfers between bank accounts.<\/p>\n\n\n\n

Exploring the Advantages of Tokenization<\/strong><\/h2>\n\n\n\n

The announcement highlighted that the DBS Treasury Tokens project leverages the company\u2019s experience and systems developed through its participation in the Monetary Authority of Singapore\u2019s<\/a> (MAS) Project Orchid and Project Guardian, which explore the benefits of tokenization.<\/p>\n\n\n\n

DBS mentioned that its Treasury Tokens are one of the applications tested under Project Guardian.<\/p>\n\n\n\n

Lim Soon Chong, DBS Bank\u2019s group head of global transaction services, emphasized that the new project addresses a critical need driven by the growth of e-commerce and on-demand services. The executive stated:<\/p>\n\n\n\n

\n

“DBS Treasury Tokens and our partnership with Ant International demonstrate how corporates can seize such opportunities with full confidence that their liquidity management capabilities can scale in tandem.”<\/p>\n<\/blockquote>\n\n\n\n

Lim added that DBS\u2019s permissioned blockchain also lays the groundwork for new efficiencies and capabilities in traditional banking services, including \u201cprogrammable, fractionalized, and atomic value transfer.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The pilot offers DBS Treasury Tokens on a permissioned, EVM-compatible blockchain,\u00a0improving corporate liquidity management across several markets. DBS Bank, a multinational banking and financial services company, has partnered with digital payment provider Ant International to launch a new blockchain-based treasury and liquidity management solution. On August 13, DBS Bank announced the pilot introduction of DBS […]<\/p>\n","protected":false},"author":56,"featured_media":89625,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[12094,568,321,202,931],"class_list":["post-89616","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-adoption-2","tag-banking","tag-banks","tag-blockchain","tag-singapore"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/08\/DBS-Bank-Introduces-Blockchain-Powered-Treasury-Token-Pilot-scaled.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/89616","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=89616"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/89616\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/89625"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=89616"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=89616"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=89616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}