Standard Chartered and Ant International Achieve 24/7 Liquidity Transfers via Blockchain-Powered Whale Platform

Standard Chartered and Ant International Achieve 24/7 Liquidity Transfers via Blockchain-Powered Whale Platform

(IN BRIEF) Standard Chartered and Ant International have completed SGD-denominated liquidity transfers using Ant’s blockchain-powered Whale platform, advancing real-time, 24/7 treasury management. The platform uses blockchain and AI to enhance fund transfer efficiency, transparency, and security for Ant’s global treasury operations. This follows similar HKD-denominated test transactions, underscoring both companies’ commitment to seamless, cross-border liquidity solutions.

(PRESS RELEASE) LONDON, 6-Nov-2024 — /EuropaWire/ — Standard Chartered and Ant International have successfully conducted SGD-denominated liquidity transfers using Ant International’s blockchain-based Whale platform. This transaction marks a significant advance toward real-time, 24/7 treasury management. Leveraging the Whale platform, Standard Chartered provided the necessary liquidity to complete the transaction, which showcases the platform’s use of blockchain, AI, and advanced encryption to enhance the efficiency and transparency of global fund movements for better liquidity management.

This intra-group transfer optimizes Ant International’s treasury and working capital, crucial for global operations that require rapid cross-border transactions. By utilizing the Whale platform’s blockchain technology, Ant International gains improved transparency and security in tracking fund transfers.

Mahesh Kini, Global Head of Cash Management at Standard Chartered, highlighted the transformative impact of blockchain on treasury functions, stating, “Blockchain technology is reshaping treasury management, and we’re thrilled to help our clients leverage these benefits.” He noted that the bank’s focus on upgrading platforms enables clients to access and control liquidity seamlessly.

Kelvin Li, Head of Platform Tech at Ant International, added, “Building on our successful blockchain test settlements with Standard Chartered in Hong Kong, we’re excited to expand this collaboration to Singapore. We aim to develop further solutions that make global liquidity management more efficient and secure.”

This transaction follows a recent HKD-denominated test settlement by Standard Chartered and Ant International, underscoring their commitment to exploring blockchain-based solutions for treasury management across borders.

About Ant International
Headquartered in Singapore, Ant International powers the future of global commerce with digital innovation for everyone and every business to thrive. In close collaboration with partners, we support merchants of all sizes worldwide to realise their growth aspirations through a comprehensive range of tech-driven digital payment and financial services solutions.

Standard Chartered

We are a leading international banking group, with a presence in 52 of the world’s most dynamic markets. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

Standard Chartered PLC is listed on the London and Hong Kong stock exchanges.

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Media Contacts:

Standard Chartered:
Phyllis Goh
Associate Director, Communications, Singapore
Phyllis.Goh@sc.com

Ant International:
Kahmun Leong
Communications Manager
kahmun.leong@antgroup.com

SOURCE: Standard Chartered