KASIKORNBANK (KBank), together with Orbix Technology & Innovation Co., Ltd. (Orbix Technology) and StraitsX

, has announced collaboration for project “Seamless Travel Payments on Chain” under 

 (Borderless, Liquid, Open, Online, Multi-currency), an international collaboration led by the Monetary Authority of Singapore (MAS). The initiative aims to connect regulated digital payment systems across jurisdictions using blockchain technology, which will enable real-time QR code payments between Thailand and Singapore by 2026. The project was officially unveiled at Singapore FinTech Festival 2025, held from 12- 14 November 2025, where leading global and regional banks, payment service providers, technology companies, investors and regulators gathered. KBank executive also joined global stage to share their vision and insights on the transformation of the financial industry in the digital era. This collaboration presents potential development of a real-world use case for cross-border payments between travelers from Thailand and Singapore, which will enable real-time QR code payments at local merchants using regulated e-money and interoperable blockchain technology. The implementation will mark a major milestone in enhancing cross-border payment experiences by making them faster, safer, more convenient, and fully compliant with regulatory standards.

Ms. Kattiya Indaravijaya, Chief Executive Officer of KBank

, joined the panel discussion titled “How will digital banks compete over the next decade? New propositions and customer segments.” She noted that over the next decade, the competitive landscape will shift from product-driven offering to experience-driven financial ecosystems that integrate seamlessly into customers’ daily lives. Technology will turn every device into a smart financial touchpoint, enabling a broader range of financial services embedded in everyday activities. With the power of data and AI, banks will be able to understand customer needs more precisely in designing products and services that truly meet expectations. She emphasized the importance of transparency and the development of workforce capabilities to stay ahead a world shaped by  AI and data, ensuring that customers are served with confidence and long-term sustainability. 

Dr. Karin Boonlertvanich, Executive Vice President of KBank

, said, “KBank is proud to be a part of BLOOM, a real-world application of blockchain technology for digital payments. In Phase 1 (targeted for completion by the second quarter of 2026), Thai travelers visiting Singapore will be able to use the 

 application to pay merchants directly using 

 (an e-money on blockchain). The system will be powered by 

, the blockchain developed by Orbix Technology, which will serve as the core infrastructure connecting with StraitsX’s platform to ensure secure and instant transactions. This collaboration marks an important step towards building an interoperable digital financial network that can scale across the region.”

Mr. Tianwei Liu, Co-Founder and Chief Executive Officer of StraitsX

, added, “This partnership sets a new benchmark for cross-border payments. In Phase 2, the project will expand to allow Singaporean travelers visiting Thailand to pay local merchants directly in Singapore Dollars using 

, our Singapore dollar-backed stablecoin, which will be automatically converted into Thai Baht upon settlement. This will increase convenience, efficiency, and trust in global value exchange.”

Phase 1 of the project is currently being conducted under the Bank of Thailand’s Regulatory Sandbox, and is expected to go live in Q2 2026. In Phases 1 and 2, travelers will be able to scan local QR codes in Thailand and Singapore using their respective e-wallets to complete payments conveniently and instantly. Behind the scenes, Quarix by Orbix Technology integrates with Avalanche, which acts as the technology enabler for the StraitsX system. This integration will enable real-time settlement between Q-money and XSGD, ensuring merchants can receive payments instantly while minimizing foreign exchange friction and enhancing transparency and security. For Phases 2 and 3, to be explored in the first half of 2026 subject to approval from the relevant regulatory authorities to ensure full compliance with legal and supervisory frameworks.

KBank, Orbix Technology, and StraitsX share a commitment to advancing the future of travel payments using regulated digital money and interoperable blockchain technology, strengthening Southeast Asia’s financial infrastructure to be seamless, resilient, and globally trusted, capable of supporting future expansion.

 further shared that Phase 3 of the project will introduce cross-border KYC verification, ensuring secure identity validation in compliance with regulatory requirements in both countries. “Our shared goal is to build a payment system that is trusted and compliant, allowing travelers to make payments abroad as conveniently as they do at home.” This initiative will serve as a key foundation for creating a modern, transparent, and secure digital financial system, ready to support regional and international expansion.

The participation in Singapore FinTech Festival 2025 and the announcement of this international collaboration for project “Seamless Travel Payments on Chain” reflect KBank’s vision as a driving force in financial innovation and as a leader in the transition towards the new era of digital money, where technology serves as a core infrastructure connecting people, businesses, and nations beyond borders.

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KBank, Orbix Technology and StraitsX unveil project “Seamless Travel Payments on Chain” under MAS’s Project BLOOM at Singapore Fintech Festival 2025

KASIKORNBANK Partners with Mae Fah Luang Foundation, TGO, Kubix, and Orbix Technology to Launch Thailand’s First Carbon Credit Tokenization Pilot Program under the Bank of Thailand’s Regulatory Sandbox.

 is laying the groundwork for Thailand’s transition toward a mandatory carbon credit market by collaborating with leading partners—

the Mae Fah Luang Foundation under Royal Patronage, Thailand Greenhouse Gas Management Organization (TGO), Kubix Digital Asset Co., Ltd., and Orbix Technology and Innovation Co., Ltd.

, the first initiative of its kind in Thailand. Conducted under the Bank of Thailand’s Regulatory Sandbox, the program aims to enhance carbon credit trading and offsetting through blockchain technology, promoting transparency and operational efficiency in pursuit of the Net Zero goal. This marks a significant step in reinforcing KBank’s leadership in financial innovation and Thailand’s green economy.  

Ms. Kattiya Indaravijaya, Chief Executive Officer of KASIKORNBANK

, stated that the bank supports climate transition toward a low-carbon economy through a comprehensive suite of tools encompassing finance, knowledge, and technology. KBank also advocates for establishing a robust foundation to support the future mandatory carbon credit market. Most recently, the bank has partnered with the Mae Fah Luang Foundation, TGO, Kubix, and Orbix Technology to implement the Carbon Credit Tokenization Pilot Program. The initiative leverages blockchain technology to enhance transparency and efficiency in carbon credit trading and offsetting, serving as a foundational infrastructure for future mandatory carbon credit transactions. This aligns with Thailand’s long-term policy direction toward carbon neutrality and Net Zero emissions.

Under this pilot program, KBank will promote the efficient utilization of carbon credits generated from forest conservation efforts within the Doi Tung Development Project through digital systems. Kubix will serve as the system and technology provider, managing the tokenization process by converting carbon credits into digital tokens divisible into units of kilograms of carbon dioxide equivalent (kgCO₂e). The collaboration also encompasses the processes of offering, holding, reconverting into carbon credits, and offsetting—all conducted on the Quarix blockchain, developed by Orbix Technology. This blockchain is designed to ensure transparency, credibility, and traceability of carbon credit data.

M.L. Dispanadda Diskul, Secretary General and Chief Executive Officer of the Mae Fah Luang Foundation under Royal Patronage

, explained that the carbon credits used in this pilot are derived from forest conservation and restoration efforts integrated with community development under the Doi Tung Development Project, located in Mae Fah Luang District, Chiang Rai Province. These carbon credits are registered with TGO under the T-VER standard. The forest area not only serves as an effective carbon sink but also plays a vital role in wildfire prevention, ecosystem restoration, biodiversity conservation, and sustainable income generation for local communities. More than 11,000 community members are actively engaged in protecting over 90,000 rai (approximately 14,400 hectares or 144 km²) of Thailand’s watershed forests, exemplifying successful multi-sector collaboration with tangible outcomes.

Mr. Nakorn Tangavirapat, Executive Director of the Thailand Greenhouse Gas Management Organization (TGO)

, noted that while KBank is conducting the pilot test covering token holding and carbon credit offsetting for its operations, TGO will serve as the Registrar, managing the carbon credit registry system. This includes recording certifications, holdings, transfers, cancellations, and usage of greenhouse gas volumes for offsetting, as well as issuing cancellation certificates upon completion of offsetting processes. TGO will also provide advisory services and support for system usage and transactions. All operations are coordinated with the Bank of Thailand to ensure compliance with the Regulatory Sandbox framework. This initiative aligns with TGO’s strategic direction to promote the domestic voluntary carbon market, encouraging greenhouse gas reduction and trading by enhancing the utility of carbon credits in various formats.

 concluded by emphasizing that this project is not merely a technology trial, but a strategic milestone in developing a transparent and credible voluntary carbon market in Thailand. It also prepares the country for the transition to a mandatory carbon market and supports Thailand’s ambition to become a regional hub for carbon credit trading. As a leader in financial innovation, KBank remains committed to developing climate transition solutions, including Green Finance innovations tailored to the needs of modern investors. These solutions enhance transaction efficiency and security, support customers in technological transitions, and foster sustainable economic, social, and environmental value. The Carbon Credit Tokenization Pilot Program represents a pivotal step in shaping the Future of Finance, advancing the green economy, and concretely supporting Thailand’s Net-Zero Emissions target, reaffirming the bank’s core mission of operating as a sustainable bank.

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