{"id":5107,"date":"2025-06-04T12:24:13","date_gmt":"2025-06-04T07:24:13","guid":{"rendered":"https:\/\/pkfin.kotenterprises.dev\/?p=5107"},"modified":"2025-06-04T12:24:13","modified_gmt":"2025-06-04T07:24:13","slug":"abl-and-paysys-labs-pilot-pakistans-first-interledger-protocol-for-cross-border-payments","status":"publish","type":"post","link":"https:\/\/pkfin.kotenterprises.dev\/?p=5107","title":{"rendered":"ABL and Paysys Labs Pilot Pakistan\u2019s First Interledger Protocol for Cross-Border Payments"},"content":{"rendered":"

Source: Business Recorder<\/strong><\/p>\n

KARACHI:<\/strong> Allied Bank, one of Pakistan\u2019s leading commercial institutions, has announced a strategic partnership with Paysys Labs<\/a>, a pioneer in next-generation payment technologies, to pilot the Interledger Protocol (ILP) for seamless cross-border transactions.<\/p>\n

As part of this groundbreaking collaboration, Paysys Labs has also secured the prestigious Digital Financial Services Grant<\/strong> from the Interledger Foundation (ILF)<\/strong>. The initiative aligns with ILF\u2019s mission to “send a payment as easily as an email,” and marks a major step forward for Pakistan\u2019s financial technology landscape.<\/p>\n

Under the pilot program, Paysys Labs\u2014working closely with Allied<\/a> Bank\u2014will develop a Proof of Concept (PoC)<\/strong> to implement a node on the ILP Test Network. This will allow Allied Bank\u2019s customer accounts to function as wallets<\/a> on the global ILP network, facilitating smooth and instant cross-border payments from other registered and regulated financial institutions around the world.<\/p>\n

The pilot reflects both organizations\u2019 shared commitment to embracing innovation while ensuring regulatory compliance and data security. By integrating ILP into its digital payment infrastructure<\/a>, Allied Bank aims to explore next-generation solutions that can streamline international transactions and increase financial inclusion.<\/p>\n

This initiative positions Allied Bank and Paysys Labs at the forefront of digital transformation in Pakistan\u2019s banking sector<\/a>, setting the stage for a more connected and efficient global payments ecosystem.<\/p>\n","protected":false},"excerpt":{"rendered":"

Source: Business Recorder KARACHI: Allied Bank, one of Pakistan’s leading commercial institutions, has announced a strategic partnership with Paysys Labs, a pioneer in next-generation payment technologies, to pilot the Interledger Protocol (ILP) for seamless cross-border transactions. As part of this groundbreaking collaboration, Paysys Labs has also secured the prestigious Digital Financial Services Grant from the […]<\/p>\n","protected":false},"author":1,"featured_media":5108,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[1299],"tags":[],"class_list":["post","format-standard"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t