Today Ant International made two Singapore announcements about its blockchain-based Whale platform for international treasury management. Standard Chartered integrated with Whale to provide instant and 24/7 liquidity in Singapore dollars. Plus, Ant signed a deal with OCBC bank to enable 24/7 real-time payments between Singapore and Malaysia.
Ant has two goals with the Whale platform. The first is to support its own intragroup treasury needs to move money around the world instantly and 24/7. One of its subsidiaries is Alipay+ which both provides direct merchant services across the globe. Plus, it links numerous payment apps, especially those in Asia. Hence, if someone from Malaysia pays a Singapore merchant, Alipay has to ensure the merchant receives the money across borders.
But Ant isn’t the only corporate that needs to move money around the world. Large enterprises with subsidiaries spread globally want to make sure the money is in the right place at the right time, to minimize credit charges and optimize interest income. Hence, while Ant is perfecting the Whale solution for internal use, it is also offering it as a solution to other companies.
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