Summary
Standard Chartered and Ant International successfully completed SGD liquidity transfers via Ant’s Whale platform, enhancing cross-border transaction efficiency and transparency. The companies aim to expand their blockchain partnership in Singapore.
Blockchain-Based SGD Settlement Completed
British banking giant Standard Chartered and Ant International, a division of Ant Group, have completed an SGD-denominated liquidity transfer using Ant’s blockchain-powered Whale platform. The transaction aims to improve the transparency and efficiency of fund transfers between bank accounts, according to a Nov. 5 report by The Asian Banker.
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Enhanced Liquidity Management
The integration of Standard Chartered with Ant’s Whale platform optimizes intra-group liquidity management for cross-border transactions. Mahesh Kini, global head of cash management at Standard Chartered, highlighted blockchain’s transformative impact, stating, “The technology is revolutionizing treasury management, and we are pleased to be early adopters of its use cases to enable our clients to take advantage of its extensive benefits.” Kini emphasized the goal of providing real-time, transparent liquidity flows.
Expanding Collaboration to Singapore
Following successful tests in Hong Kong, Kelvin Li, head of platform tech at Ant International, revealed plans to extend blockchain-based settlements to Singapore. “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,” said Li.
Participation in Ensemble Sandbox Project
Both Standard Chartered and Ant International are active in the Hong Kong Monetary Authority’s Ensemble Sandbox, where they explore various tokenization use cases. Standard Chartered’s Hong Kong branch has been involved in Project Ensemble since May, working to establish industry standards for tokenized transactions with Ant International’s Whale platform supporting two use cases.
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