Kasikorn bank becomes the first one to join Visa’s Blockchain powered B2B Connect Program on September 20. The program aims for hassle-free cross-border payments using Blockchain Technology. The step by Thailand’s fourth-largest bank has laid out the stage for further revolutions.

On this, Siriporn Wongtriphop, Senior Vice President of the bank, has expressed his happiness. The additional security of Blockchain coupled with the partnership with Visa B2B will make the bank the leader for all banking activities, said Siriporn.

B2B Connect was first introduced in the year 2017. It helped in facilitating corporate cross border payments. Its first partners were the U.S. Commerce Bank, South Korea’s Shinhan Bank, the Union Bank of Philippines and the United Overseas Bank in Singapore.

It enabled them to make direct cross-border transactions between each other without any centralized department. As the Blockchain Technology uses cryptographic language to protect data and transfers, it is less time-taking as well as safe.

In August, the Bank of Thailand (BoT) allowed all the local banks to deal with cryptocurrencies. This led the banks to be able to issue digital tokens and to invest in cryptocurrencies through subsidiaries and many more. Now as Kasikorn bank has set the stage for the revolution, it is apparent that more number of banks will join the force in the near future.