DBS Report: 78% of Surveyed Enterprises Use Multiple Settlement Currencies; AI and Tokenized Currencies Are Reshaping Cross-Border Treasury Management

DBS Bank (Hong Kong) released its latest report noting that shifting trade routes and market volatility are making cross-border operations increasingly complex for enterprises. To address these challenges, companies are adopting more diversified settlement currencies and introducing new treasury management tools. The survey interviewed 422 business leaders across 11 markets, of whom 78% have reduced reliance on traditional settlement currencies by adopting other currencies such as the renminbi, supporting their operations across more trade corridors. The survey found that 88% of enterprises are using or piloting tokenized currencies. At the same time, artificial intelligence is improving treasury management and payment processes. About three-quarters of respondents said AI has already delivered tangible benefits, or they expect to see results within the next two years. This shows that AI helps enterprises respond more effectively to increasingly complex operational needs. The report noted that to respond to shifting trade routes, more than three-quarters of respondents have adjusted their operating models and expanded into markets such as ASEAN, Australia and New Zealand. In Hong Kong, 80% of corporate respondents said pressure to enter new markets has increased as companies seek to diversify geographic risk. Over the past 12 months, more than 80% of respondents also faced greater exchange rate and energy price volatility, making transaction settlement outcomes harder to predict. More diversified settlement options also give enterprises greater flexibility in operating across different trade corridors. 78% of respondents have adopted other settlement currencies, while only 2% have not considered other options at all. Demand for the renminbi continues to grow in more markets. 81% of Hong Kong corporate respondents have included the renminbi among their settlement currency options. Markets with close trade ties to and geographic proximity to mainland China, such as Taiwan region, South Korea, Indonesia and Singapore, also show higher renminbi adoption rates. Wang Meibao, Managing Director and Head of Global Transaction Services at DBS Hong Kong, said cross-border finance is entering a new phase, and enterprises need more than faster, lower-cost payment services they need intelligent, secure ways to move funds and clear liquidity information. AI, digital assets, tokenized currencies and new settlement mechanisms offer opportunities for enterprises to optimize liquidity and support business growth. However, multiple settlement networks developing in parallel but operating separately may also make operations more complex and increase the difficulty of compliance management.