Global credit card giant Visa has rolled out the first, pilot phase of its blockchain-based business-to-business payments service, B2B Connect.
First announced last year, Visa plans to use the platform to ease cross-border payments by facilitating direct payments between institutions, cutting out the middleman the industry currently relies on.
The platform – developed with the assistance of blockchain startup Chain – is also designed to ensure secure, yet transparent payments between enterprises.
Already working with Visa on the project are U.S.-based Commerce Bank, South Korea’s Shinhan Bank, the Union Bank of Philippines and the United Overseas Bank, based in Singapore…
Read Full: Visa Launches First Phase of Blockchain B2B Payments System – CoinDesk