The Shikha Sharma-led bank, the third largest private sector lender, will be using the upcoming technology for cross-border remittances, it said in a statement.
"We are committed to using innovation in technology to make banking simple and convenient for our customers," deputy managing director V Srinivasan said.
He said remittances have been a key strategic area for the bank and the block chain technology will enable real-time affordable money transfers.
Axis Bank has tied up with fintech firm Ripple to offer the solution.
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As against the current system which takes up to five days for transfer money, block chain can do so instantaneously, it said.
"Given its status as the fastest-growing major economy in the world and the top market for remittances, India is a very important market that is ripe for payments innovation," Brad Garlinghouse, the chief executive of Ripple, said.
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