South Korea’s largest bank, KB Kookmin Bank, is preparing to launch a cross-border payment service for corporate clients using JPMorgan’s Kinexys platform, according to reports cited by multiple outlets. The service is intended to support US dollar payments tied to import and export activity. One report says the offering will use JPMorgan’s blockchain-based platform to facilitate these transfers across 10 countries. Another source reports that the bank plans to roll out the service next month, citing Yonhap. Both accounts describe a corporate-focused product built on the Kinexys infrastructure rather than a consumer remittance service. The reporting also frames the move as part of the bank’s effort to improve efficiency and capabilities for international payments, particularly for business transactions denominated in USD. Details on pricing, client onboarding, and specific corridors within the “10 countries” scope are not provided in the cited summaries, and the reports do not describe any additional partners or regulatory approvals beyond the planned use of Kinexys.
KB Kookmin Bank to launch Kinexys-based cross-border payments using JPMorgan platform
South Korea’s largest bank, KB Kookmin Bank, is preparing to launch a cross-border payment service for corporate clients using JPMorgan’s Kinexys platform, according to reports cited by multiple outle...
- KB Kookmin Bank plans to launch a cross-border payments service next month.
- The service uses JPMorgan’s Kinexys platform, described as blockchain-based.
- It is designed for corporate import and export payments.
- The service supports US dollar cross-border transfers.
- Reporting indicates coverage across 10 countries.
The largest bank in South Korea plans to launch a blockchain-based cross-border corporate payments service next month, according to Yonhap.
2 hours agoSouth Korea’s largest lender will use JPMorgan’s blockchain platform to support US dollar cross-border payments for import and export businesses across 10 countries.
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