KB Kookmin Bank Launches Blockchain-Based Corporate Payment Service

KB Kookmin Bank will launch an export-import corporate payment service utilizing a blockchain-based international payment network in collaboration with JP Morgan Kinesis on July 26, 2026. This service is designed to process cross-border payments more quickly and efficiently, and it will be the first among domestic financial institutions to actually utilize JP Morgan Kinesis's payment network. The system supports remittances and foreign exchange payments in conjunction with SWIFT, enabling near real-time international payments and automated fund transfers. The new service will be available at KB Kookmin Bank's domestic branches and its Singapore branch, with remittance capabilities to a total of 10 countries, including South Korea, the United States, Singapore, Saudi Arabia, India, Thailand, Qatar, the United Arab Emirates, Bahrain, and South Africa. Initially, it will support remittance transactions in US dollars. This service is expected to reduce the payment processing time for businesses and simplify the waiting and verification procedures involved in overseas transactions.

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