KB Kookmin Bank to Launch JPMorgan Kinexys Cross-Border Payments in August

South Korea's KB Kookmin Bank becomes first to use JPMorgan's Kinexys for corporate settlements, enabling USD transfers to 10 nations starting August.

Woofun AI reports that KB Kookmin Bank will introduce cross-border corporate payment services utilizing JPMorgan’s Kinexys blockchain network this August. As the first South Korean institution to adopt this platform for import-export settlements, the bank aims to mitigate time-zone related delays for transactions with regions including the U.S. and the Middle East. The initial rollout supports USD transfers to ten countries, such as Saudi Arabia, Qatar, and the UAE.