Standard Chartered and Ant International complete SGD settlement on blockchain: report

Standard Chartered and Ant International completed liquidity transfers in SGD using Ant’s Whale platform.

According to information obtained by The Asian Banker, British multinational bank Standard Chartered, together with Ant International, completed liquidity transfers in SGD using Ant International’s blockchain-based Whale platform.

Standard Chartered has integrated with Ant International’s Whale platform to improve the efficiency and transparency of fund movements between bank accounts, according to a report published on November 5. The report states that intra-group liquidity management optimizes Ant International’s treasury for cross-border transactions.

Addressing the deal, Standard Chartered’s head of global cash management, Mahesh Kini, praised blockchain’s role, saying the technology is “revolutionizing treasury management and we are pleased to be an early adopter of its use cases to enable our customers to reap its comprehensive benefits.” benefits.”

“Our collaboration with Ant International brings us closer to our goal of providing real-time, 24/7, transparent and secure liquidity flows to our customers.”

Mahesh Kini

Ant International’s head of platform technology, Kelvin Li, added that the companies are ready to expand their partnership to Singapore, following the blockchain testing agreements that both parties concluded in Hong Kong.

“We hope to build on the momentum of our previous collaboration and continue to develop new solutions to make global liquidity management more seamless and secure for businesses around the world.”

Kelvin Li

The announcement follows Standard Chartered’s recent test deal with Ant International for a similar transaction in HKD.

Both companies are participants in the Hong Kong Monetary Authority’s Ensemble Sandbox. Since May, Standard Chartered’s Hong Kong branch has been involved in Project Ensemble as part of the Architectural Community.

Throughout the project, Standard Chartered collaborated to establish industry standards and help design and implement the Ensemble Sandbox, which tested a variety of tokenization use cases. Ant International is also involved in the Ensemble Sandbox and is developing two use cases using the Whale platform.