KBank, Ant International, and Kinexys by J.P. Morgan Collaborate on Liquidity Management Infrastructure

KASIKORNBANK (KBank), Ant International, and Kinexys by J.P. Morgan have formed a strategic collaboration to develop an integrated financial infrastructure for cross-border liquidity management. This initiative leverages Kinexys’ private permissioned blockchain deposit account network to facilitate near real-time, 24/7 USD fund transfers. The project builds upon the successful 2024 Project Carina pilot, which demonstrated a reduction in transaction times from 72 hours to approximately five minutes. The hybrid architecture integrates blockchain settlement rails with conventional banking systems to handle FX conversion, trade finance, and payments. Specifically, the system manages inward remittances by converting USD to Thai Baht for disbursement to merchants within Ant International's ecosystem, as well as outward remittances for liquidity transfers. By addressing traditional banking cut-off constraints, the collaboration aims to enhance operational efficiency and reduce costs for international payments. Implementation remains subject to consultation with and approval from relevant regulatory authorities.

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