As a researcher with a keen interest in fintech and blockchain technology, I find this collaboration between Standard Chartered and Ant International highly intriguing. Having closely followed their individual journeys in embracing digital transformation, it’s fascinating to see them come together to leverage blockchain for liquidity management.
Ant International, along with Standard Chartered Bank, executed Singapore Dollar (SGD) transactions for liquidity swaps through Ant’s Whale platform.
It’s been reported that the global banking giant, Standard Chartered, in partnership with Ant International, has successfully executed Singapore Dollar (SGD) transactions utilizing Ant International’s blockchain system called “Whale”. This information comes from The Asian Banker.
As per a report dated November 5th, Standard Chartered has combined forces with Ant International’s Whale platform to boost the effectiveness and clarity of funds transfers between bank accounts. This collaboration in intragroup liquidity management has streamlined Ant International’s treasury for cross-border transactions, as indicated by the report.
Regarding the topic at hand, Mahesh Kini, head of global cash management at Standard Chartered, lauded blockchain’s impact, stating that it is “dramatically transforming treasury management, and we are delighted to be among the first to utilize its applications to empower our clients to fully leverage its myriad advantages.
Working with Ant International moves us significantly nearer to achieving our aim of offering uninterrupted, round-the-clock, transparent, and secure liquidity transactions for our customers.
Mahesh Kini
Kelvin Li, the leader of platform technology at Ant International, mentioned that after successfully conducting blockchain-based trial transactions in Hong Kong, the two entities are now planning to broaden their collaboration to Singapore.
Our aim is to expand upon the success of our past partnership and keep pushing forward, creating innovative approaches to streamline and fortify global liquidity operations for businesses on a global scale.
Kelvin Li
The announcement follows Standard Chartered’s recent test settlement of a similar HKD-denominated transaction with Ant International.
Both firms are currently engaged in the Hong Kong Monetary Authority’s Ensemble Sandbox initiative. Starting from May, the Hong Kong division of Standard Chartered has taken part in the Project Ensemble within their Architecture Community.
As a researcher involved in this project, I’ve been privileged to work alongside Standard Chartered in setting up industry-standard practices and contributing to the design and implementation of the Ensemble Sandbox. This innovative sandbox is used to test multiple tokenization applications. Notably, Ant International is also an active participant in the Ensemble Sandbox, leveraging its Whale platform to develop two unique use cases within this dynamic environment.
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2024-11-05 14:40