South Korea’s largest bank brings cross-border payments to Kinexys

KB Kookmin Bank will launch a blockchain-based cross-border payment service for import and export companies in August 2026. Summary KB Kookmin will initially launch Kinexys-based U.S. dollar payments across ten countries during August 2026. The service links blockchain settlement with SWIFT while supporting corporate transfers beyond normal banking hours. KB becomes South Korea’s first financial institution using Kinexys for corporate import and export payments. The South Korean lender will use Kinexys by J.P. Morgan to support U.S. dollar payments across 10 countries. The service will connect Kinexys with existing SWIFT payment rails. It will support near-real-time transfers and foreign exchange settlement throughout the day. Customers will access the service through KB Kookmin Bank’s domestic branches and its Singapore branch. KB Kookmin becomes first Korean bank to use Kinexys KB Kookmin Bank announced the service on July 26 after signing an agreement with J.P. Morgan on blockchain remittance services. According to Yonhap News Agency, it will become the first South Korean financial institution to use Kinexys for payment services aimed at import and export companies. The agreemen...