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

Orbix Technology & Innovation Co., Ltd. (orbix TECHNOLOGY)

, served as a distinguished guest speaker to provide deep insights into Blockchain technology for students participating in the

: THE NEXT GEN” program. Organized by the 

, the camp aims to prepare the younger generation for the rapidly evolving financial landscape where technology serves as a critical foundation.

Vision for the "Agentic Economy" During the session, Mr. Pisith emphasized that blockchain is no longer just about digital asset speculation but is becoming the essential infrastructure for the "Agentic Economy". He explained a future where Artificial Intelligence (AI) agents will autonomously perform transactions, create value, and collaborate with humans, all of which require the transparency, traceability, and immutability provided by blockchain.

: The Institutional-Grade Blockchain Infrastructure Revolutionizing Enterprise Ecosystems: 

, a pioneering, financial-grade blockchain infrastructure meticulously engineered to bridge the paradigm gap between traditional architecture and decentralized innovation. Underpinned by the visionary mandate, 

“Blockchain for REAL, Blockchain for ALL,” Quarix 

delivers an institutional-grade framework designed to catalyze trust, efficiency, and compliance at scale :

1. Institutional-Grade Infrastructure & Regional Connectivity (The "Three Reals")

: Developed under the vision "Blockchain for REAL, Blockchain for ALL," Quarix serves as a financial-grade regional network bridging traditional finance with decentralized innovation by supporting regulated digital currencies (REAL Money), tokenizing real-world assets (REAL Assets), and establishing seamless cross-border payment rails between Thailand and strategic international partners like Singapore.

2. Unprecedented Financial Efficiency & Automated Compliance

: By transitioning from legacy frameworks to Quarix's decentralized architecture, institutions unlock radical operational optimizations—replacing multi-day clearing cycles with near-instantaneous settlements, structurally minimizing transactional overhead costs, and providing regulators with an immutable, real-time, mathematically verifiable source of truth for seamless auditability.

3. Cryptographically Secure Identity Proofing & Zero-Trust Privacy

: Utilizing advanced Decentralized Identifiers (DIDs) and Verifiable Credentials (VCs), Quarix completely eradicates identity fraud and data vulnerabilities; it empowers users with absolute data sovereignty while enabling institutions to instantaneously validate credential lifecycles and authenticity without exposing unnecessary sensitive information.

Empowering Students for the Future The students in the BOT Boot Camp gained significant advantages from this interaction, including:

1. Immersive Exploration of Real-World Use Cases

: Step into the future of digital finance by actively exploring "Q-money" (e-money on blockchain), an enterprise-grade solution currently being tested within the Bank of Thailand’s Regulatory Sandbox. This offers a rare, hands-on opportunity to analyze how next-generation digital currencies seamlessly operate inside a real legal and regulatory framework.

: Cultivate future-ready capabilities by directly designing autonomous systems where artificial intelligence (AI) and smart contracts converge. Participants will architect intelligent workflows that dramatically eliminate operational friction, master policy-by-design enforcement, and lead the next wave of technological innovation.

3. Strategic Networking with Top-Tier Experts

: Build invaluable relationships by connecting directly with fintech visionaries, industry leaders, and like-minded peers. This program serves as an exclusive platform to cultivate a high-caliber professional network that is absolutely vital for a standout career within the national financial sector.

: Complete this intensive 2-week journey of advanced workshops and pitch unique innovations at the Final Showcase to earn an official Certificate. This credential significantly elevates professional profiles, unlocking elite career pathways with the Bank of Thailand, leading financial institutions, and pioneering tech enterprises.

 underscores a commitment to upskilling Thai youth, ensuring they are equipped with the knowledge and digital mindset required to thrive in a transformative global economy.

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Orbix TECHNOLOGY Executive Inspires Future Leaders at BOT Boot Camp, Highlighting Quarix Blockchain for the Digital Economy

 to develop a Data Wallet system for issuing and storing digital educational certificates (Digital Certificates) for youths participating in the ODOS Summer Camp (Summer Opportunity Camp), covering two cohorts. This reflects the potential of Thai-developed digital services that can be applied in real-world use cases in a concrete manner.

, Managing Director of Orbix Technology, stated that the company was selected by depa to develop a pilot Data Wallet system for the ODOS Summer Camp project. The system was designed to enhance standards in educational data management and certification by making information more reliable, accurate, and secure. It also enables faster, more convenient, and more efficient verification and validation of data.

The Data Wallet system applies Quarix blockchain developed by Orbix Technology to issue certificates in the form of Verifiable Credentials (VC), an international standard for digital credential verification. Users are able to access, store, and share their data efficiently with strong security, and verification can be performed through a web application called “Q-locket.”

In addition, a Web Portfolio platform has been developed to track learning activities, mission results, and participant development, along with an Interactive Hall of Fame to showcase achievements, works, and experiences of participants in the program. The system aims to promote structured digital learning records, support knowledge exchange, networking, and expand long-term educational opportunities sustainably.

 further stated that Orbix Technology believes digital technology plays an important role in enhancing learning and creating new opportunities for Thai youth. Receiving this opportunity from depa to develop the system is seen as a way to showcase the potential of Thai digital services and represents another important step in elevating educational credentialing through blockchain technology. This helps build trust in the authenticity of data, reduces the risk of forgery, and improves transparency and efficiency in verifying digital evidence.

Moreover, the system helps upgrade the country’s digital data management infrastructure to international standards, enabling interoperability with other systems in the future. This will enhance efficiency in managing educational data at the national level and serve as a key foundation for developing digital talent and Thailand’s digital economy in the future.

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Orbix Technology and SKILLKAMP bring Data Wallet to enhance digital experiences for Thai youth in the ODOS Summer Camp program

สถิตในดวงใจตราบนิรันดร์

น้อมสำนึกในพระกรุณาธิคุณอันหาที่สุดมิได้

ข้าพระพุทธเจ้า คณะกรรมการ ผู้บริหาร และพนักงาน ออร์บิกซ์ กรุ๊ป

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สถิตในดวงใจตราบนิรันดร์ น้อมสำนึกในพระกรุณาธิคุณอันหาที่สุดมิได้ | Orbix Group

Orbix Technology and Innovation Co., Ltd. (Orbix Technology), the developer of the Quarix blockchain infrastructure, has announced a collaboration with HealthTAG Co., Ltd. (HealthTAG), a leading health technology company in Thailand, to develop next-generation health data infrastructure. The initiative leverages trust-building mechanisms to connect public healthcare systems. HealthTAG provides a Decentralized Health Data Wallet, which will serve as the primary channel for individuals to access, manage, and fully control their own health data independently, securely, and transparently on the Quarix blockchain infrastructure. Quarix has been designed as a central platform for the economic sector to develop and expand financial innovations and digital services. The platform also enables the systematic integration of health data from the HealthTAG Wallet with financial products and services within KASIKORNBANK FINANCIAL CONGLOMERATE.

The two companies are currently in discussions to jointly develop financial innovations. The integration is expected to ensure the integrity and confidentiality of stored health data, while also serving as a starting point for using such data as supporting documentation for financial transactions. Potential applications include supply chain payment, insurance underwriting, and customer profiling. These developments aim to enhance efficiency, transparency, and accuracy in financial services in a sustainable and systematic manner. The collaboration will proceed with further discussions and will seek approval from relevant regulatory agencies before any commercial services are launched.

Mr. Pisith Kulkanchanachewin, Managing Director of Orbix Technology and Innovation Co., Ltd. (Orbix Technology), said that the company’s vision is to develop a digital ecosystem that integrates collaboration across multiple sectors to promote the practical adoption of blockchain technology in both the healthcare and financial systems. This vision has led to the partnership between Orbix Technology and HealthTAG, which shares the common objective of elevating the standards of security, reliability, and transparency in the management of citizens’ health data in line with international standards, while also enabling access to efficient financial services powered by health data.

Orbix Technology serves as a core blockchain infrastructure provider through the Quarix network, which is designed to support the secure storage, processing, and exchange of highly sensitive health data, while integrating real identity infrastructure for digital identity verification, access control, and enterprise-level data security under regulatory frameworks and personal data protection standards. HealthTAG’s decision to conduct system testing on the Quarix network reflects its confidence in the infrastructure’s potential and its commitment to developing a health data infrastructure that can connect with digital financial systems in a secure and verifiable manner. The development of health data infrastructure should not be limited merely to data storage, but must also comprehensively support regulatory standards, data privacy, and interoperability to facilitate national-scale usage and sustainable long-term financial innovation.

Dr. Dechowat Promda, CEO of HealthTAG Co., Ltd. (HealthTAG), added that under this collaboration, HealthTAG serves as the developer and manager of the HealthTAG Wallet, including connecting data among various healthcare providers under the HL7 FHIR (Fast Healthcare Interoperability Resources) electronic health data exchange standard to ensure seamless health data connectivity. This allows users to independently and securely manage access rights to their own health data through the HealthTAG Wallet, which is designed to give users direct control over their data. HealthTAG not only aims to solve data challenges in Thailand, but is committed to building a “Health Operating System” (Health OS) that connects 600 million people across ASEAN. The partnership with Orbix Technology represents a critical step towards ensuring that this infrastructure meets international security standards and is ready to support emerging AI-driven medical innovations. Furthermore, this collaboration goes beyond mere data storage. It lays the foundation for health intelligence through privacy-preserving technologies and bank-grade electronic transaction security, supporting precise and self-managed medical research. This also facilitates connections with hospitals and partners to ensure comprehensive coverage for future service providers. Additionally, the use of Quarix’s blockchain technology will further enhance the system’s security and reliability.

This collaboration between Orbix Technology and HealthTAG reflects the application and advancement of blockchain technology in Thailand’s financial innovation and digital health data sectors, ensuring security, transparency, and reliability. It plays a vital role in supporting the development of the national financial and health data ecosystems, preparing them for public health data integration to support organizational and regional usage, while promoting long-term sustainable development.

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Orbix Technology Partners with HealthTAG to Advance Blockchain-Based Digital Health Data Platform Through Hospital Data Integration, Providing Users True Data Ownership

Amid the transformation of the global financial system, Stablecoins and Programmable Money are increasingly being recognized as new mechanisms for cross-border payments, particularly in Asia, where trade, investment, and tourism play a significant role in driving the region’s economic activity.

, an international fintech event that brings together leaders from banks, financial institutions, fintech companies, and leading organizations from around the world, a panel discussion was held under the topic 

“The Rise of Stablecoins and Programmable Money in Thailand: The Future of Real-Time Remittance.”

The panelists included Mr. Pisith Kulkanchanachewin, Managing Director of Orbix Technology & Innovation; Mr. Atthakrit Chimplapibul, Co-Founder of Bitkub Group; and Ms. Debbie Lin, Business Development Director of Money20/20 Asia.

From Orbix Technology’s perspective, the growth of Stablecoins is not merely a technological trend, but is increasingly becoming part of the design of regulated financial infrastructure.

Stablecoin Is a Tool, but Infrastructure Is the Core

Mr. Pisith views the growth of stablecoins as a global trend. The payments sector is beginning to consider stablecoins as an alternative for cross-border remittance and settlement. However, the key issue is not the issuance of more stablecoins, but the development of a regulated settlement corridor that can truly connect with banking systems, operate under regulatory oversight, and support enterprise-level use cases with stability and security.

 (Thai Baht Programmable Payment) is an electronic data unit backed by Thai Baht deposits (1 THBS = 1 THB). It can be used as a medium of exchange for goods and services within Thailand in real time. The system is currently being tested under the Enhanced Regulatory Sandbox of the Bank of Thailand.

clearly reflects this approach through the development of 

, an e-money issued on blockchain, alongside THBS as a Programmable Payment built on the 

 blockchain infrastructure to support financial transactions via the 

One of the key use cases is the Programmable Payment project, which allows foreign tourists from more than 20 countries to convert USDC into THBS within the Q Wallet application and conveniently scan and pay via QR codes at participating merchants.

A key feature is that e-KYC identity verification can be completed without visiting a bank branch, while merchants receive Thai Baht immediately. This project is currently being tested under the Enhanced Regulatory Sandbox of the Bank of Thailand and the Digital Asset Regulatory Sandbox of the Securities and Exchange Commission of Thailand.

In addition, cross-border remittance testing is being conducted in collaboration with 

, enabling corporate customers to transfer funds 24 hours a day, reducing transaction times from several days to only a few minutes. This service is being tested under the Regulatory Sandbox of the Bank of Thailand.

These developments reflect that stablecoins, THB Programmable Payment, or similar digital assets are not immediately replacing existing financial systems, but are gradually being integrated into financial infrastructure under clear regulatory frameworks to improve efficiency, transparency, and trust in the digital financial system.

Speed Is the Starting Point, but Programmability Is the Game Changer

Although blockchain technology enables cross-border transfers to operate 24 hours a day, the core significance lies not only in the speed of settlement, but also in the ability to define payment conditions through smart contracts under appropriate regulatory frameworks.

By defining the logic for releasing funds based on pre-verified conditions, operational risks can be reduced, transparency can be enhanced, and auditability can be strengthened.

This evolution moves financial transactions beyond simple Remittance toward the ability to design and program programmable cash flow.

At the same time, these developments must operate within strong risk management frameworks, internal controls, regulatory oversight, and system security standards, including business continuity measures, to ensure that they do not pose risks to users or to the overall stability of the financial system.

The Challenge Lies in Trust and Integration

Advancing financial infrastructure through blockchain technology aims to create programmable cash flow that enhances systemic efficiency and reduces operational risk through transparent and verifiable smart contracts.

However, achieving widespread adoption requires secure integration with existing financial institution systems (Legacy Systems) under clear legal frameworks, accounting and tax standards, and defined service standards (SLA). These elements are essential to protect users and maintain financial stability.

Therefore, Orbix Technology and KASIKORNBANK remain committed to studying and developing use cases with partners across the financial sector, with strong emphasis on regulatory compliance and the establishment of reliable common standards.

These efforts aim to create a solid foundation for the country’s sustainable digital economy, while ensuring that use cases will be discussed with and approved by relevant regulatory authorities before any future commercial deployment.

The Future of Cross-Border Remittance and Programmable Finance in Thailand

Over the next 3–5 years, the direction of programmable money and stablecoins is not to replace systems such as SWIFT or existing financial infrastructure.

Instead, they will be integrated as new financial service channels capable of supporting both transaction data exchange and asset settlement under clear regulatory frameworks.

Financial institutions will continue to play a critical role as system orchestrators operating under trusted governance, while blockchain technology will serve as the core infrastructure layer connecting both public and private networks with security and stability.

This interoperability between networks will strengthen flexibility and resilience within the broader digital financial system.

At Money20/20 Summit Thailand, Orbix Technology’s perspective clearly highlights that the future of Thailand’s cross-border remittance system will not be driven by technology trends alone, but by the design of trusted, interoperable, and regulated infrastructure at the regional level.

When money becomes programmable, the key question is no longer simply “how fast” transactions can move, but “how resilient, trustworthy, and sustainably integrated the financial system can be.”

Money20/20 Summit Thailand Orbix Technology 1

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Orbix Technology Shares Insights on the Future of Thailand’s Cross-Border Remittance on the Global Stage at Money20/20 Summit Thailand

 (second from right), Executive Vice President of KASIKORNBANK; 

 (first from right), Managing Director of Orbix Technology and Innovation Co., Ltd.; 

(first from left), Deputy CEO of BPMG, a leading blockchain technology service provider in South Korea, 

jointly signed a Memorandum of Understanding (MOU) to explore the solution for cross-border financial service solutions using blockchain between Thailand and South Korea.

This collaboration involves exploring blockchain-based remittance solutions for legal Thai workers in South Korea, which will entail discussions with and seeking approval from relevant regulatory authorities before any future official launch. This partnership marks a significant step in enhancing cross-border remittance and payment systems to be faster, more secure, and more efficient, forming a crucial foundation for advancement of the regional financial infrastructure and reflecting the shared vision of both nations’ organizations in driving the digital economy. The MOU signing ceremony was recently held at The Athenee Hotel Bangkok, a Luxury Collection Hotel.

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Orbix Technology and KASIKORNBANK partner with Kbank and BPMG from South Korea to jointly explore the development of cross-border financial service solutions using blockchain

the Electronic Transactions Development Agency (ETDA)

 as a member of the national working group on 

. The working group was established to support the secure, structured, and continuous development of digital credential systems in Thailand.

The initiative focuses on enabling interoperability, secure data exchange, and technical alignment across Document Wallet and Verifiable Credential implementations, ensuring that systems can work together reliably while maintaining trust and data protection.

Focus on Interoperability and Trusted Data Exchange

A key objective of the working group is to ensure that Document Wallet and Verifiable Credentials do not operate in isolation. Interoperability is essential for digital credentials to be usable across organizations, sectors, and platforms, while preserving security, verifiability, and privacy.

As part of the working group, Orbix Technology participates in technical discussions and testing related to credential issuance, storage, verification, and data exchange. This includes evaluating how systems can support trustworthy data flows without compromising user privacy or system integrity.

Alignment with Quarix REAL Identity Use Cases

The working group’s objectives align with 

, which focus on identity-linked credentials and privacy-preserving data verification built on blockchain infrastructure. These use cases apply Self-Sovereign Identity principles to enable selective disclosure, cryptographic verification, and user control, while remaining compatible with institutional and regulatory requirements.

Supporting Practical and Sustainable Deployment

This appointment reflects a shared emphasis on practical implementation rather than theoretical frameworks. The working group aims to ensure that Document Wallet and Verifiable Credentials are designed to interoperate reliably from the outset, supporting long-term adoption without fragmentation.

Through participation in this national initiative, Orbix Technology continues to support the development of trusted digital identity infrastructure that is interoperable, secure, and suitable for real-world deployment across Thailand’s digital ecosystem.

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ETDA Appoints Orbix Technology to National Working Group for Verifiable Credentials and Document Wallets

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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