OCBC, Ant International team up on tokenised deposits

It aims for real-time, around-the-clock cross-border payments between Singapore and Malaysia.

OCBC and Ant International partnered to explore innovations in tokenised deposits for global treasury management using Ant International’s Whale platform. It aims to improve the speed and efficiency of cross-border fund settlements. 

The focus of this partnership is to achieve real-time, around-the-clock cross-border payments between Singapore and Malaysia. 

The Whale platform, a next-generation treasury management solution, utilises blockchain technology, advanced encryption, and AI to enhance the efficiency and transparency of fund transfers between bank accounts, optimizing global liquidity management.

The collaboration, formalised on 5 November was signed by Melvyn Low, OCBC’s Head of Global Transaction Banking, and Douglas Feagin, President of Ant International.

This marks OCBC’s first foray into tokenisation with Ant International, extending a collaboration that began in September 2023 when OCBC joined the Alipay+ network, enabling cross-border payments between Singapore, Malaysia, and South Korea.