HomeBlockchainVisa blockchain based service in the Asian crypto market

Visa blockchain based service in the Asian crypto market

Thailand’s largest bank per capitalisation, Kasikornbank, will implement Visa’s B2B Connect system for international blockchain payments.

According to Visa Thailand manager Suripong Tantiyanon, the B2B Connect platform enables the company to make greater use of the services provided by the company through the use of a patented blockchain technology:

This VSA B2B Connect platform allows participating banks to make international payments of high amounts. With our technological capability and network, we are pleased to partner with Kasikornbank to create a more efficient, transparent way for business-to-business payments to be made across the world“.

In addition to a high level of security, the platform allows a high level of transparency of the entire payment process, thus providing bank customers with additional security.

The B2B Connect platform was announced in 2016 by the credit card giant and was developed in collaboration with Chain Inc, a San Francisco-based company specializing in the development of blockchain encryption.

The infrastructure used is called Chain Core and is at the forefront of security and transparency. Experiments with this new technology are also underway in the USA with the Commerce Bank, in South Korea with the Shinhan Bank, in Singapore with the United Overseas Bank and in the Philippines with the Union Bank.

Fabio Lugano
Fabio Lugano
Laureato con lode all'Università Commerciale Bocconi, Fabio è consulente aziendale e degli azionisti danneggiati delle Banche Venete. E' anche autore di Scenari Economici, e conferenziere ed analista di criptovalute dal 2016.
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