Ant, KASIKORNBANK use JP Morgan’s Kinexys for cross border DLT payments
Infrastructure
KASIKORNBANK (KBank) and Ant International have announced a strategic collaboration to facilitate real-time, 24/7 cross-border USD transactions. The initiative leverages Kinexys by JP Morgan, utilizing its blockchain-based deposit accounts to streamline international liquidity management. While Ant International has previously integrated Kinexys, this partnership deepens the operational synergy between the two entities, building upon their existing relationship through the Alipay+ digital wallet gateway. Ant International utilizes its internal treasury management solution, Whale, to orchestrate these movements across various tokenized deposit platforms. By partnering with systemically important banks, Ant International aims to establish robust standards for digital asset-based settlements. This development underscores the growing institutional adoption of tokenized deposits to replace traditional, slower cross-border payment rails. The move highlights the critical role of major financial institutions in scaling blockchain infrastructure for global treasury operations.
Key points
- ▸KBank and Ant International enable 24/7 cross-border USD payments via Kinexys by JP Morgan.
- ▸Ant International uses its Whale treasury solution to manage liquidity across tokenized deposit platforms.
- ▸The collaboration expands existing ties between KBank and Ant International's Alipay+ gateway.
- ▸Ant International is actively partnering with Swift and HSBC to develop tokenized deposit standards.
Background
Kinexys by JP Morgan is a blockchain-based platform that enables institutional clients to conduct real-time, programmable cross-border payments using tokenized deposits. It allows financial institutions to move liquidity 24/7, bypassing the limitations of traditional correspondent banking systems. Ant International's Whale platform serves as a treasury management tool that integrates with these blockchain solutions to optimize global cash flow.
Relevance
8/10