Kasikornbank (KBank) is taking significant steps to revolutionize cross-border payments between Thailand and Singapore. In a recent announcement made during the Singapore FinTech Festival 2025, the bank revealed its collaboration with StraitsX and Avalanche to facilitate seamless transactions for Thai tourists. According to the official information, this initiative aims to enhance the overall travel experience for users.
Introduction of Seamless Travel Payments on Chain
The initiative, dubbed Seamless Travel Payments on Chain, will allow users of KBank's Q Wallet app to make real-time payments at various merchants across Singapore. By converting transactions into XSGD, a stablecoin pegged to the Singapore Dollar, the project aims to ensure instant settlement for merchants, enhancing the overall payment experience for travelers.
Current Status and Future Plans
Currently, the first phase of this integration is undergoing testing within the Bank of Thailand's Regulatory Sandbox. KBank anticipates a full launch of the service by the second quarter of 2026, marking a significant advancement in the digital payment landscape for both countries.
In a recent discussion, CryptoSensei explored the controversial claims regarding Ripple and its potential partnership with Amazon, contrasting with KBank's advancements in cross-border payments. For more details, see Ripple and Amazon.
