DBS Bank has partnered with digital payment provider Ant International to launch a blockchain-based treasury and liquidity management solution.

In a Tuesday press release, DBS announced the pilot launch of its DBS Treasury Tokens, marking the bank’s use of blockchain technology for financial services.

The DBS Treasury Tokens, which are set to be utilized by Ant International, operate on DBS’s permissioned blockchain.

This blockchain is specifically designed to cater to DBS entities across various markets, allowing for instant and multicurrency treasury and liquidity management.

A permissioned blockchain, sometimes referred to as a private blockchain, is distinct in that it includes an access control layer.

This layer ensures that only authorized participants can interact with the blockchain, adding a layer of security and control.