OCBC partners with Ant International on tokenised deposits

OCBC has teamed up with Ant International, a company backed by Alibaba, to develop a tokenized deposit solution. This partnership enables continuous treasury management and smooth liquidity movement between Singapore and Malaysia. Tokenized deposits are digital versions of bank deposits stored on a distributed ledger, providing a transparent and unchangeable record.

By using blockchain technology, the process becomes more efficient, as it cuts down on manual reconciliation tasks. Ant International will be able to transfer both SGD and USD tokenized deposits around the clock, allowing for near-immediate settlement of treasury transactions between its different entities. OCBC's blockchain technology is utilized in this solution, which is executed through Ant International's Treasury Management platform, WhaleRTP.

WhaleRTP enhances liquidity management and allows seamless interaction between blockchain assets from various financial institutions. Conventional cross-border liquidity transfers are often restricted by batch processing schedules, operating hours, and currency and settlement cut-off times. Tokenized deposits, however, enable companies to shift and utilize liquidity beyond these traditional banking windows.