OCBC has announced its collaboration with Ant International to introduce a tokenised deposit solution, marking a significant advancement in treasury management between Singapore and Malaysia. This innovative solution, available through Ant International’s WhaleRTP platform, leverages blockchain technology to enable 24/7 liquidity movement and real-time treasury transactions.
Tokenised deposits, which are digital representations of commercial bank deposits on a distributed ledger, offer enhanced transparency and efficiency. By utilising blockchain, these deposits create an immutable audit trail, reducing the need for manual reconciliation and improving operational efficiency. Initially, Ant International will manage SGD- and USD-denominated tokenised deposits, facilitating near real-time settlements across its entities.
The launch addresses the growing demand for real-time treasury and liquidity management, overcoming traditional constraints such as batch processing cycles and currency cut-off times. This development builds on OCBC’s history of innovation in blockchain and digital assets, following its recent successful cross-border tokenised deposit transactions with Citibank and other local banks.
Carmen Chan, Deputy Head of Global Transaction Banking at OCBC, highlighted the bank’s commitment to innovation: “By combining OCBC’s blockchain capabilities and transaction banking expertise with Ant International’s Whale platform, we are enabling businesses to manage liquidity with greater speed, visibility, and efficiency.”
Kelvin Li, General Manager of Platform Tech at Ant International, expressed enthusiasm for the partnership: “Through the Whale platform, we are enabling more efficient cross-border treasury across our ecosystem to unlock near real-time liquidity.”
This collaboration signifies a step towards scalable adoption of tokenisation, aiming to build a more connected and efficient financial ecosystem.
