KB Kookmin Bank Integrates JPMorgan Kinexys for Blockchain Cross-Border Payments

South Korea's KB Kookmin Bank becomes the first local institution to use JPMorgan's Kinexys for corporate settlements, launching USD services across 10 countries next month.

Woofun AI reports that South Korea's KB Kookmin Bank will launch a blockchain-based corporate cross-border payment service next month, integrating J.P. Morgan’s Kinexys network. This initiative marks the first time a South Korean financial institution utilizes Kinexys for corporate import and export settlements. The service will operate through domestic branches and the Singapore office, initially prioritizing USD remittances across ten countries including the US, Singapore, and Saudi Arabia. Kinexys serves as J.P. Morgan's blockchain platform, offering institutional clients programmable payments and near real-time settlement capabilities.