SWIFT action: JPMorgan and Visa team up on cross-border blockchain payments

Visa is set to integrate its B2B connect network with JPMorgan’s suit of blockchain based cross-border payment products.

Traditional finance and payment giants JPMorgan and Visa are teaming up to streamline the use of their private blockchain solutions Liink and B2B Connect to facilitate cross-border payments.

According to an Oct. 11 report from Forbes, JPMorgan’s Liink is a network specifically designed for cross-border transfers and is offered under the bank’s blockchain and payments initiative Onyx. Onyx provides a platform for institutions to share financial information and validate transactions.

Visa’s B2B Connect is a similar network to Liink that was built for institutional grade use and has now been integrated with Onxy’s Confirm.

Confirm is an account-information validation product, and ensures that transacting parties provide genuine identities and correct information. Onyx touts that Confirm is capable of verifying more than 2 billion bank accounts from 3,500 financial institutions.

Finextra reported yesterday that J.P. Morgan is looking to rope i

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