Internet giants once again venture into the encryption field, Ant Group collaborates with Singapore Bank to launch digital Token

Recently, Ant Group partnered with Singapore's largest bank to launch a pilot program for "Treasury Token", attracting widespread attention in the industry. This initiative aims to optimize internal liquidity and working capital within the group, reducing the settlement time for intra-group transactions from several days to just a few seconds. Ant International also stated that the project has potential application value in areas such as instant tax refund services and cross-border payments for small and medium-sized enterprises.

This Singaporean bank has a strong background and is a representative of local development banks. Ant International has a large number of cross-border trade merchant resources, and the cooperation between the two parties may bring real-time settlement tokenization solutions for a large amount of cross-border trade, which is expected to change the traditional cross-border payment model.

The project has received support from the Singapore Monetary Authority's official "Guardian" project. This initiative aims to enhance liquidity and efficiency in the financial markets through asset tokenization. The collaboration between Ant Financial and this Singapore bank is one of the practical application scenarios of the project.

It is worth noting that the policy-making members of the Guardian project include financial regulatory agencies from multiple countries such as Germany, the UK, Japan, Europe, and Singapore, but do not include relevant organizations from the United States. This phenomenon has sparked some speculation about changes in the international financial system.

Singapore also has a project called "Orchid Project", which mainly explores the issuance of central bank digital currency, namely "Digital Singapore Dollar". The uniqueness of the Singapore Dollar lies in the fact that it is issued backed by Singapore's vast foreign exchange reserves, similar to a central bank-managed stablecoin.

In the Orchid Program, the Singapore central bank is responsible for issuing stablecoins, while local banks take on the role of exchanges for conversions. The participating institutions in the program are primarily local organizations in Singapore.

These measures indicate that Singapore is actively exploring the development of its national currency into an encryption stablecoin to facilitate domestic institutional settlements. At the same time, in the field of international trade, Singapore is collaborating with multiple Eurasian countries to jointly promote new cross-border payment solutions. Multinational trade institutions like Ant Group play an important role as providers of application scenarios in this context.