November 7, 2024
By Our Correspondent
Standard Chartered and Ant International have successfully executed their inaugural transaction in Singapore dollars (SGD) utilizing Ant International’s blockchain-based Whale platform. This development represents a significant advancement towards achieving instantaneous and round-the-clock treasury management for both organizations, thereby enhancing treasury and working capital management for Ant International and its associated entities.
Through the integration with the Whale platform, Standard Chartered enabled the efficient transfer of SGD liquidity among Ant International’s group of entities. This innovative solution harnesses blockchain technology, incorporating advanced encryption and artificial intelligence, to improve the efficiency and transparency of fund transfers, ultimately facilitating better global liquidity management.
This milestone follows a recent successful test settlement of a transaction denominated in Hong Kong dollars (HKD) between the two firms.
Mahesh Kini, Global Head of Cash Management at Standard Chartered, stated, “We continue to invest in our platforms and upgrade to enable seamless interoperability and compatibility to support our clients in achieving instant access, visibility, and control of their liquidity and working capital. Our collaboration with Ant International brings us ever closer to our goal of providing real-time, 24/7, transparent, and secure liquidity flows for our clients.”
Kelvin Li, Head of Platform Tech at Ant International, remarked, “Following the successful blockchain test settlements that we have achieved with Standard Chartered in Hong Kong, we are delighted to expand our partnership to Singapore, the home of Ant International’s global headquarters.
We hope to build on the momentum of our previous collaboration and continue developing new solutions to make global liquidity management even more seamless and secure for businesses around the world.”
