Today Thailand’s second largest bank, KASIKORNBANK (KBank), announced a collaboration with Ant International for AI and cross border payments. Together they are targeting real time, 24/7 international USD transactions, using Blockchain Deposit Accounts from Kinexys by JP Morgan. From a Kinexys perspective, this is probably not a new installation, but a collaboration between two existing clients. Ant International was among the first Kinexys users, and we believe KBank may have been using it since 2024.
KBank is already a partner for Alipay+, Ant’s digital wallet gateway. Now it is helping Ant International to manage cash movements, in this case using US dollars. Ant has a treasury management solution, Whale, which is currently for internal use. It has partnered with most of the systemically important banks that have tokenized deposit solutions to enable this 24/7 liquidity movement via Ant Whale. In many cases it has been the first partner for a new tokenized deposit solution. It’s such as prolific user of tokenized deposits that it has partnered with Swift and HSBC in an attempt to develop standards.
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