Thailand’s Kasikornbank to Pilot Visa’s Blockchain Cross-Border Payments Platform

The biggest bank by market capitalization in Thailand, Kasikornbank, has become the first financial institution in the Southeast Asian country to get on board the Visa B2B Connect platform. Designed to enable fast and secure cross-border payments between businesses using blockchain technology, the platform relies on a permissioned private blockchain architecture which is operated by global financial services firm, Visa Inc.

According to Visa Thailand’s country manager, Suripong Tantiyanon, the B2B Connect platform makes extensive use of the core capabilities of the global financial services company in governance, security and distributed ledger technology, per The Nation.

“Building on the enterprise blockchain technology, Visa B2B Connect is a new transaction platform designed for the exchange of high-value international payments between participating banks on behalf of their corporate clients,” said Suripong.

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