Two major banks successfully tested sending cross-border payments using a blockchain system developed by Thai bank Krungsri (Bank of Ayudhya PCL), according to a news release from Krungsri.

MUFG Bank, a unit of Mitsubishi, and Standard Chartered Bank Singapore took part in the test, which involved sending money from Thailand to Singapore using Krungsri’s Blockchain Interledger.

The pilot was conducted under the Bank of Thailand’s regulatory guidelines. Read more here.

ThirtyK Staff
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