DEPLOYMENT · APAC
Kasikornbank and Ant International deploy JPMorgan's Kinexys blockchain for real-time USD cross-border payments
Thai bank Kasikornbank and Alibaba's Ant International have signed an MoU to use JPMorgan's Kinexys blockchain rails for instant USD transfers. This operationalizes corporate cross-border rails in APAC, reducing settlement friction and FX risk.
WHY IT MATTERS
Public blockchains remain unproven for high-value FX. JPMorgan's enterprise permissioned network signals institutional confidence in blockchain-based settlement. Expect regulatory scrutiny on stablecoin bridging and market concentration risk.
Source: Finextra · 2026-06-02