Standard Chartered and Ant International have completed their first blockchain-based SGD-denominated liquidity transfer. The transaction was conducted using Ant International's Whale platform, a treasury management solution that employs blockchain technology to enhance fund movement efficiency and transparency.
This development allows for effective intra-group liquidity movement, optimizing treasury and working capital management for Ant International. The company benefits from increased transparency and security in its fund movements, crucial for global firms needing 24/7 liquidity management.
"Blockchain technology is revolutionising treasury management," said Mahesh Kini, Global Head of Cash Management at Standard Chartered. "We continue to invest in our platforms to support our clients in achieving instant access, visibility, and control of their liquidity."
Kelvin Li, Head of Platform Tech at Ant International, expressed satisfaction with the expanded partnership: "We hope to build on the momentum of our previous collaboration and continue developing new solutions."
The companies had previously tested a similar HKD-denominated transaction. For more details on this collaboration or contact information, reach out to Phyllis Goh at Standard Chartered or Kahmun Leong at Ant International.