Visa Integrates Open Source Hyperledger Tech for B2B Blockchain Payments

 Visa is integrating open-source blockchain code from the Hyperledger Fabric ahead of the commercial launch of its own blockchain service for enterprise payments in Q1 2019.Visa B2B Connect, the payment giant’s enterprise blockchain platform that enables cross-border payments between businesses, is partnering IBM to integrate the latter’s development of the open-source Hyperledger Fabric framework.As reported nearly two years ago to the day, Visa first announced the blockchain platform co-developed with blockchain industry startup chain Inc.., as an alternative solution to global payments rail SWIFT for making large payments between businesses across borders.The service tokenizes a participant’s information including account numbers and other sensitive data with a unique identifier to facilitate faster transactions susceptible to fewer fraud. Fundamentally, cross-border corporate transactions sent through B2B Connect are processed from the bank of origin directly to the receiver at the beneficiary bank.