Thailand-based KASIKORNBANK, also known as KBank, has entered a strategic partnership with Ant International to create a more integrated financial infrastructure focused on improving international payment services. The collaboration is designed to support faster and more scalable transaction processing, particularly for cross-border USD payments operating around the clock.
The initiative combines KBank’s regulated banking infrastructure with Ant International’s artificial intelligence-powered financial technologies. Through this collaboration, both companies intend to develop a system capable of supporting real-time liquidity movement and uninterrupted cross-border payment operations.
A key component of the project involves the use of Blockchain Deposit Accounts from Kinexys by J.P. Morgan, a blockchain-powered payments platform developed by JPMorgan Chase. The platform is expected to facilitate real-time USD liquidity transfers while enabling 24/7 transaction capabilities.
The partnership is primarily focused on creating a blockchain-enabled financial infrastructure that allows continuous cross-border USD payments with faster settlement and improved scalability.
Addressing Regional Payment Challenges
The companies expect the collaboration to improve transaction speeds for merchants operating internationally while reducing liquidity constraints that frequently affect cross-border payments in Southeast Asia. Continuous payment operations are also expected to help businesses manage global transactions more efficiently across different time zones.
The latest move represents another step in KBank’s broader digital transformation strategy for regional payments. Earlier, the bank expanded its cross-border payment ecosystem by integrating with Grab QR services in Singapore, strengthening its regional digital payment network.
KBank and Ant International also plan to introduce end-to-end payment services covering payment acceptance, clearing, and settlement functions. The rollout of these services will remain subject to regulatory approvals in the relevant markets.
Ant International recently expanded its merchant network to more than 150 million businesses globally. The company plans to use the new infrastructure to enhance the efficiency of both inbound and outbound settlements while helping merchants improve cash-flow management.
Existing Collaboration Expands Further
The new agreement builds upon an already established relationship between the two firms. KBank previously integrated its KPLUS mobile banking application with Alipay+, the digital wallet gateway operated by Ant International. That integration connected KPLUS users to a network serving approximately 1.8 billion consumer accounts worldwide.
In addition, KPLUS has already been enabled as a payment option on Google Pay for Thai merchants through Antom, Ant International’s merchant payment platform.
Dr. Karin Boonlertvanich, Executive Vice President of KASIKORNBANK, explained that current cross-border financial systems continue to face limitations because liquidity movement remains fragmented across different infrastructures. The executive indicated that integrating blockchain technology with regulated financial systems could support a more transparent, scalable, and continuous movement of funds between international financial networks and local economies.
The use of blockchain-based deposit accounts is expected to eliminate liquidity bottlenecks and support uninterrupted 24/7 payment operations for global merchants.
Kelvin Li, Senior Vice President and General Manager of Platform Tech at Ant International, stated that financial institutions in emerging markets are increasingly preparing for a more interconnected global economy supported by secure AI and blockchain applications. He added that Ant International intends to support Thai merchants, particularly small businesses, by providing more efficient payment tools that can strengthen their ability to operate globally.
The collaboration also aims to improve settlement efficiency and cash-flow management for merchants connected to Ant International’s global payment ecosystem.
