Visa Launches Blockchain-Based Business-To-Business Payments Project

Visa has announced a preview of its new project - Visa B2B Connect – a platform for real-time international business-to-business transactions.

According to the official announcement, Visa has partnered with Chain, a company-provider of blockchain technology solutions, to build Visa B2B Connect using Chain Core technology.  

Jim McCarthy, executive vice president innovation and strategic partnerships at Visa said:

“We are developing our new solution to give our financial institution partners an efficient, transparent way for payments to be made across the world.”

Visa’s new platform Visa B2B Connect is planned to go to a pilot in 2017. 

In the meantime, today October 24, Chain announced the release of the Chain Core Developer Edition, a free and open source version of its distributed ledger platform that enables organizations to issue and transfer assets on permissioned blockchain networks.