Asia Crypto Roundup: Worldcoin’s Malaysia Expansion, Singapore’s DBS Treasury Tokens Pilot, and More

As Asia continues to emerge as a hub for crypto innovation, significant developments are taking place across the region. Worldcoin is establishing a strong foothold in Malaysia through strategic partnerships, while Singapore’s DBS Bank is pioneering new solutions in financial management with its pilot launch of Treasury Tokens.

These advancements, alongside others in the region, highlight Asia’s growing influence in the global crypto arena.

DBS Bank Revolutionizes Liquidity Management with Treasury Tokens

On August 13, DBS, Singapore’s largest private bank, introduced DBS Treasury Tokens, a treasury and liquidity management solution developed in collaboration with Ant International. This initiative allows Ant International to manage multi-currency treasury operations on DBS’ permissioned blockchain. Moreover, it enables instant settlement and enhanced liquidity management across various markets.

Integrated with Ant International’s Whale platform, DBS’ blockchain facilitates 24/7 intragroup liquidity management, streamlining workflows and improving visibility. The platform uses blockchain technology, encryption, and AI to optimize fund movements between bank accounts, reducing settlement times from days to seconds.

“We have already seen successful use cases on our Whale platform in areas such as instant tax refund services and SME cross-border payments, and we will continue working together with industry partners and leveraging blockchain technology to enable more open and inclusive cross-border payments,” Kelvin Li, Head of Platform Tech at Ant International, explained.

Read more: What is Tokenization on Blockchain?

DBS Treasury Tokens are part of the bank’s broader strategy to leverage blockchain for financial innovation. This move draws on insights from its participation in the Monetary Authority of Singapore’s Project Orchid and Project Guardian.

Worldcoin Expands to Malaysia, Advancing Digital Credentialing

On August 16, Worldcoin and its developer, Tools for Humanity (TFH), announced a partnership with Malaysia’s MIMOS Berhad, the government’s research and development arm, and MyEG, a leading e-government services provider. This partnership aims to incorporate iris imaging technology into Malaysia’s digital infrastructure. This will enable secure and private verification of individuals, streamlining the country’s approach to digital credentials.

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