KBank, StraitsX, and Grab Launch Q Wallet Expansion for Seamless Thailand-Singapore Cross-Border Payments via Blockchain
KASIKORNBANK (KBank), StraitsX, and Grab have partnered to expand Q Wallet, enabling Thai travelers to make instant payments to Singapore merchants.
Users can now scan GrabPay QR codes directly from the Q Wallet app, eliminating the need for cash exchanges or multiple payment apps abroad.
Blockchain-Powered Innovation
The expansion leverages Quarix blockchain infrastructure developed by KBank's Orbix Technology for real-time, transparent settlements.
It integrates KBank's Q-money e-money with StraitsX's XSGD stablecoin, allowing borderless transactions without currency conversion hassles.
Addressing Payment Fragmentation
This initiative tackles Southeast Asia's fragmented payment landscape, where travelers face high fees and inconvenience from traditional methods.
Building on Q Wallet's prior rollout for international tourists in Thailand under the Bank of Thailand's Regulatory Sandbox, it marks a key milestone in digital payment evolution.
“By applying blockchain technology alongside real-world financial systems, we aim to provide greater convenience for Thai travelers,” said Dr. Karin Boonlertvanich, Executive Vice President of KBank.
“By connecting Q-money with XSGD, we’re enabling instant blockchain settlement between Thailand and Singapore,” noted Tianwei Liu, CEO and Founder of StraitsX.
Future Regional Connectivity
Regulated by the Monetary Authority of Singapore's licenses for StraitsX and Grab, the service paves the way for broader ASEAN digital economy growth.
Looking ahead, the partnership signals potential expansions to other markets, fostering sustainable cross-border financial infrastructure.
This development enhances merchant access to Thai spending power through Grab's vast network while ensuring immediate fund receipts.
